Prices of KIA Sportage & KIA Picanto INCREASED
According to our official notification, KIA Lucky Motors has increased the prices of KIA Sportage and KIA Picanto. Earlier, we shared these updated prices with you quoting sources, however, now it has been confirmed by the company.
New Price of KIA Sportage
The new price of KIA Sportage AWD is Awd Rs56,50,000, compared to old rate of Rs5,270,000, meaning it has seen a jump of Rs380,000.
Meanwhile the new rate of Sportage FWD is Rs51,50,000 against the old rate of Rs4,782,000, meaning it saw an increase of Rs368,000. Finally, the new rate of KIA Sportage Alpha is Rs46,50,000, compared to the old rate of Rs4,294,000, meaning it has seen an increase of Rs356,000.
New Price of KIA Picanto
Meanwhile, the price of KIA Picanto has also been increased. The new price of KIA Picanto A/T is Rs 21,50,000, against the previous rate of Rs1,922,000, meaning it has seen a hike of Rs228,000. Moreover, the revised rate of KIA Picanto M/T is Rs2050,000, against the old rate of Rs1,781,000. It means the price has been increased by Rs269,000.
These are quite an increase in the prices of KIA cars and it will surely affect the already inflation-burdened auto market. The buying power of the common buyers will also get hit and it may lead to low sales. However, the time will tell about the sales because companies have been increasing the prices on regular bases for last couple of years, but the sales seems to remain steady and even reach record-high.
It is pertinent to mention that the increase in price was on cards. Earlier, we reported that Toyota Pakistan CEO Ali Asghar Jamali also hinted a jump in the prices. He said that the prices of raw material, cost of freight and devaluation of rupee are the major reasons behind it.
What do you think about this price hike? Do you think it will affect the sales? Share your thoughts in the comments section.