Lucky Motor Corporation (LMC) announced a substantial price reduction for its KIA vehicles for the second time in less than a month. This announcement comes as part of a limited-time year-end celebration featuring price reductions on selected vehicles.
The price cuts have been applied to several models, including the Sorento and Carnival Executive. The Sorento variants – 3.5L FWD, 2.4L AWD, and 2.4FWD – have seen a price cut of Rs. 500,000 each. Furthermore, the price of the Picanto AT has been slashed by Rs.100,000, while the cost of Sportage FWD and AWD has been decreased by Rs.150,000. The Sportage Black Limited Edition also saw a decrease of Rs. 350,000.
In addition to these reductions, the price of Sorento 2.4L FWD on full payment option has been reduced by Rs. 1,301,000 and now costs Rs. 8,999,000. Its price on the equal monthly installment plan has been cut by Rs. 1,601,000. Similarly, KIA Sorento 2.4L AWD on full payment and equal monthly installment costs Rs. 92,49,000 and Rs. 9,449,000 after a reduction of Rs. 1,951,000 and Rs. 2,251,000, respectively. The Sorento 3.5L FWD on full payment and equal monthly installment now costs Rs. 9,499,000 and Rs. 9,699,000 after a price cut of Rs. 1,791,000 and Rs 2,091,000, respectively.
The KIA Carnival Executive has also seen a significant price reduction. Its price has been reduced by Rs. 1,150,000 and now costs Rs. 16,000,000.
It’s important to note that the prices of Picanto, Stonic, and Sportage will remain unchanged despite these massive discounts. The new prices came into effect immediately following the announcement.
This move by LMC is expected to boost sales and attract more customers to the KIA brand. However, it remains to be seen how this will impact the overall auto market in the coming months.