The first company to pass on the significant impact of the currency devaluation by hiking prices by as much as Rs1.1 million is Kia Lucky Motor Corporation Ltd (LMCL). At Rs3.1 million and Rs3.2 million, the price of the 1,000cc Kia Picanto models (manual and automatic including capital value tax) has been raised by Rs5 million.
In comparison to the previous price points of Rs5.535m, Rs5.858m and Rs6.363m, the three Sportage models (Alpha, FWD and AWD) now cost Rs6.250M, Rs6.750M and Rs7.250M each.
A fucking Kia Picanto now costs Rs. 3.2 million, 500,000 price increase in one go.
— Umer (@UmerTariiq) July 19, 2022
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Prices for the latest models of Stonic EX and EXplus have been increased from Rs4.469m and Rs4.772m, respectively. It will cost Rs7.800m to buy the 2.4LFWD, 2.4LAWD, and 3.5L Sorento, compared to Rs6.904m to buy the same models.
As of today, the PP rate for the Carnival GLS is Rs12.599m instead of Rs11.499m.
Customers who had already paid in full would be exempt from the higher pricing, according to the Kia.
ye KIA wale pagal ho gaye hain, corolla ki price me picanto bechenge kya ab
— usman (@TargaryenKhan) July 19, 2022
in time for tentative deliveries made in June or earlier, as well as any other customers who received guarantees to receive their orders by July 18.
Full payment is required to reserve the Kia Picanto Manual, Stonic, Sorento and Carnival, according to LMCL. In spite of this, the firm has not yet resumed taking reservations for the Picanto automatic or the Sportage (FWD and AWD models).
Other manufacturers would soon follow suit if an assembler raised prices. After a massive surge in the dollar on Tuesday, an assembler stated he couldn’t forecast the specifics of the price rise.
In addition, Pak Suzuki Motor Company Limited (PSMCL) has announced that the GS150SE (special edition) motorbike will be withdrawn from July 16, 2022, while the ordinary version will continue to be produced. The corporation gave no explanation for the production halt in a circular sent to its authorised dealers.