The economic crisis grows, as does the never-ending flow of price increases. Kia has recently raised the cost of their midsize family haulers in this regard.
While the corporation did not specify the reason for the increase, local currency devaluation is most likely to blame. The following new pricing is effective immediately:
|Models||Old Price (Rs.)||Revised Price (Rs.)||Increase (Rs.)|
|Sorento 2.4 FWD||10,040,000||10,400,000||360,000|
|Sorento 2.4 AWD||10,890,000||11,300,000||410,000|
|Sorento 3.5 V6 FWD||10,890,000||11,390,000||500,000|
|Carnival 3.5 V6 FWD||16,250,000||16,750,000||500,000|
Kia’s progress has recently slowed due to economic concerns and operational challenges in Pakistan. In the same debate, the firm was named among Pakistan’s largest carmakers in terms of market share up to mid-2022. However, it is presently only selling a few hundred cars per year.
According to a recent article from autojournal.pk, the business sold 747 domestically produced automobiles in March, representing a 7% month-over-month (MoM) rise in sales.
Picanto and Stonic sales increased in March, while Kia’s best-seller, Sportage, witnessed a decrease. Despite this, the Sportage is by far Kia’s best-selling car. With a significant drop in sales, the Sorento remained the company’s worst-selling car. The current price increase is expected to aggravate the problem.