Kia unexpectedly raises car prices by Up to Rs. 500,000

• Lucky Motor Corporation Limited (LMCL) has raised the pricing of all Kia vehicles.
• The corporation hasn’t given a reason for the increase, but currency devaluation is most likely to blame.
• Kia was Pakistan’s fastest-growing new car company between 2019 and 2022.

Except for the Sportage Alpha and Carnival, Lucky Motor Corporation Limited (LMCL) has raised the pricing of all Kia vehicles. The corporation hasn’t given a specific reason for the increase, but currency devaluation is most likely to blame.

It is worth mentioning that, unlike the previous price increase, the corporation has increased the price of Picanto as well. The following are the new prices as of April 1:

The most recent price increases have resulted in some interesting modifications to Kia‘s vehicle portfolio. To begin, all Sorento versions now cost more than Rs. 10 million. (1 crore). Furthermore, Kia’s affordable crossover SUV, the Stonic, now has a starting price of more than Rs. 5 million.

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Kia was Pakistan’s fastest-growing new car company between 2019 and 2022. However, recent economic troubles have drastically altered its direction. It remains to be seen whether the corporation will regain its momentum.