KIA Pakistan has surprised consumers with a sudden increase in prices for its popular hatchback, the
KIA Picanto, and crossover SUV, the KIA Sportage. The decision to raise prices, effective from February 1, 2024, has left many wondering about the reasons behind it.
New Kia Picanto Price in Pakistan:
The price adjustment affects only the manual variant of the
Picanto, with a significant jump of Rs. 250,000. This brings the new ex-factory price, inclusive of CVT, to Rs. 3,600,000, compared to the previous Rs. 3,350,000.
KIA Sportage Revised Price in Pakistan:
Similarly, the Alpha variant of the
Sportage sees a Rs. 250,000 increase, with its ex-factory price (including CVT) now standing at Rs. 7,550,000, up from Rs. 7,300,000.
Prospective buyers can still book both vehicles by making partial payments.
Key Terms and Conditions:
* All new orders from February 1, 2024, will be invoiced at the revised ex-factory prices.
* Orders in the system as of February 1, 2024, will be fulfilled at the new ex-factory prices.
* A limited cashback offer of PKR 150,000 on all Sportage variants is available until February 29, 2024.
* Ex-factory prices do not include freight and insurance charges.
* Customers will be responsible for any new or additional government duties and taxes applicable at the time of delivery.
Impact and Analysis:
This marks the first car price increase of 2024, potentially signaling a trend that other car manufacturers might follow. Despite relative stabilization in the local car industry, high prices continue to position cars as luxury items, increasingly out of reach for the average consumer. The suddenness of this move by
KIA Pakistan comes amid a shifting market landscape, with various companies offering incentives like free registration, insurance, and cashback to boost sales.
The price hike by KIA Pakistan underscores the ongoing challenges in the local car market. As consumers navigate these changes, it remains to be seen how other manufacturers will respond and how consumers will adapt to these new price points.