After the incumbent government eased the import restrictions, automakers started passing on the effect to the customers. Lucky Motors Corporation Limited (LMCL) has resumed the bookings of all its models at the same price.
A dealer representative has informed us that the company has opened the bookings with a delivery time of one month.
Earlier, KIA Lucky Motors stated in a notification that the company would not decrease its car prices like other market players.
Justification For Not Reducing the Car Prices
When the local auto market observed the companies reducing their car prices in the face of Rupee appreciation against the dollar, KIA Lucky Motors came up with a different statement.
The company shared a comparison table in a bid to reveal that they increased car prices by 14 percent whilst other companies increased the prices by 19-23 percent. And after companies announced a decrease in prices, their prices came back to 15 percent, while KIA prices already stood at 14 percent. So, their current prices are still less than other companies. Meaning, KIA car prices revised on 22nd July will remain intact.
The company further informed:
“Dear Valued Customers,
LMC has always believed in being fair and transparent in our pricing policy; being a customer-centric company we took the unprecedented decision to maintain our vehicle prices for over 2 years since the launch of our flagship models: revising the same at an average of only once over the past 4 years.
While companies have been forced to take a wait and watch strategy to monitor the fluctuation in the exchange rate to see where prices will go, the increase was inevitable. To help sustain our business, we recently increased the price by 14% on 18th July; which we feel was a reasonable increase given the significant devaluation of the PKR against the USD; whereas during the same period, other industry players had taken the decision to increase prices between 19% and 23%, which has very recently been corrected to bring the increase at parity with Kia.
What do you think about the reopening of KIA’s car bookings. Share your thoughts in comment section.
