The KIA Sportage’s price has increased by up to Rs 350,000 thanks to price hikes by Lucky Motor Corporation (LMC), the country’s sole assembler of KIA vehicles.
The prices of some of its vehicles have been revised by a South Korean automaker due to a significant local currency depreciation and an increase in production costs.
Following the depreciation of the local currency, KIA is the first automotive behemoth to adjust car prices; other automakers are anticipated to follow.
With the new prices, the Kia Picanto AT, the automaker’s least expensive vehicle, has seen a price increase of up to Rs 125,000, bringing its new price to Rs 3.9 million. The price of the KIA Stonic has increased from Rs 6,050,000 to Rs 6,280,000, a startling increase of Rs 230,000.
Its most popular model, the Sportage AWD, which was going for Rs8,820,000, is now costing Rs8,920,000 after a Rs1 lakh price increase. The cost of the KIA Sportage Black has also increased by Rs 350,000 to Rs 9,650,000.
Since businesses in Pakistan are dependent on imports, the auto industry is suffering the most from the current economic crisis.
