Wednesday, July 24, 2024

KIA Pakistan Raises Prices of Picanto and Sportage Models

KIA Pakistan has implemented a sudden price hike for its hatchback and crossover SUV models, namely the Kia Picanto and Sportage, respectively, effective from February 1, 2024. The company has not provided specific reasons for this decision, as stated in the official notification.

In this adjustment, only the manual variant of the Picanto has undergone a price revision, with an increase of Rs. 250,000. Consequently, the new ex-factory price, including CVT, is Rs. 3,600,000 compared to the previous Rs. 3,350,000.

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Similarly, the Sportage’s Alpha variant has seen a price hike of Rs. 250,000, bringing its ex-factory price (including CVT) to Rs. 7,550,000 from Rs. 7,300,000.

Booking for both vehicles remains open, with partial payment options available.

Read also: Interim Govt. Hikes Petrol by Rs 13.55/Litre, Diesel by Rs 2.75/Litre

This marks the first car price increase of 2024, potentially setting a precedent for other companies within the automotive industry. While the local car market has shown signs of stabilization, high prices continue to make cars a luxury for the masses, further exacerbating accessibility issues for the general population.

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The shift in the local car market dynamics from “ON” to “OFF” in the past year, driven by low sales, has prompted various companies to offer enticing deals, including free registration, insurance, and cashback.

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Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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