One of the major automobile manufacturers, KIA has announced a reduction in prices for its entire lineup of vehicles in Pakistan effective October 6th, 2023.
The price cuts come on the back of the recent appreciation of the Pakistani rupee against the US dollar, with KIA passing on the benefits to customers. As per the company’s official press release, they announce the updated, more affordable pricing for KIA vehicles in comparison to their previous rates:
- KIA Picanto AT – Reduced by PKR 100,000 to PKR 3,850,000
- KIA Sportage FWD – Reduced by PKR 150,000 to PKR 8,040,000
- KIA Sportage AWD – Reduced by PKR 150,000 to PKR 8,770,000
- KIA Sportage Black Limited Edition – Reduced by PKR 350,000 to PKR 9,300,000
- KIA Sorento 2.4L FWD – Reduced by PKR 500,000 to PKR 10,300,000
- KIA Sorento 2.4L AWD – Reduced by PKR 500,000 to PKR 11,200,000
- KIA Sorento 3.5L FWD – Reduced by PKR 500,000 to PKR 11,290,000
The price cuts range from PKR 100,000 to PKR 500,000 depending on the variant. The revised prices are applicable for full payment only, while equal monthly installment plans remain unchanged.
The move comes as part of KIA’s customer-centric approach and commitment to passing on favorable benefits to customers. With the PKR recovering value against the dollar, analysts believe the price cuts could boost demand and sales for KIA’s locally assembled vehicles.
This development holds promising implications for both the automotive sector and the overall confidence of consumers in Pakistan. In light of these favorable circumstances, it is becoming evident that the auto industry is poised for growth, which will undoubtedly have a positive impact on the sentiments of consumers in the country.