Lucky Motor Corporation (LMC) has decided to reduce the prices of Kia vehicles in Pakistan following the recent appreciation of the Pakistani rupee against the US dollar.
LMC announced up to a Rs. 500,000 reduction in the rates of Kia cars. The prices of various Kia models, including the Picanto, Sportage, and Sorento variants, have been reduced, with some models seeing a decrease of up to Rs. 500,000. It’s important to note that these price reductions apply exclusively to customers who choose the full payment option. The new prices took effect from October 6, 2023. However, the company stated that any new or additional duties and taxes imposed by the government and applicable at the time of delivery will be borne by the customer.
The reduced prices come in the wake of the Pakistani rupee’s recent appreciation against the US dollar. This currency shift has provided an opportunity for Lucky Motor Corporation to pass on the benefits to its customers. Among the models that have seen price reductions are the Sorento variants, including the 3.5L FWD, 2.4L AWD, and 2.4FWD, which have each had their prices reduced by Rs. 500,000 in the latest price review.
Customers considering purchasing Kia vehicles in Pakistan can now enjoy more competitive pricing, making these vehicles potentially more accessible to a wider range of consumers. The price reductions are likely to generate increased interest in Kia cars and contribute to the overall growth of the brand in the Pakistani market.
While Lucky Motor Corporation has reduced the prices of Kia vehicles, it’s essential to be aware of potential new taxes and duties that may apply at the time of delivery. These will be the responsibility of the customer, so buyers should factor in these potential costs when making their purchase decisions. Overall, this move by LMC reflects the dynamic nature of the automotive industry in Pakistan, where currency fluctuations and government policies can influence pricing and consumer preferences.