Kia Lucky raises its car prices

Gives no reason for price hike, says new prices include Capital Value Tax

Our Correspondent July 06, 2023


Kia Lucky Motors has announced a significant increase in the price of its Kia cars, with the new ex-factory prices coming into effect from July 5, 2023. The company released a notification outlining the revised prices for all of its car models.

While the notification did not provide a specific reason for the price hike, it did mention that the new prices include the Capital Value Tax (CVT).

The price of the Picanto MT remains unchanged at Rs3,350,000, as there have been no revisions announced for this variant. However, the Kia Picanto AT has seen a jump of Rs200,000. It previously cost Rs3,625,000 but now carries a price tag of Rs3,825,000.

The Kia Stonic EX will continue to be priced at Rs5,350,000 as there have been no changes to its price. On the other hand, the Kia Stonic EX+ has undergone a price increase of Rs120,000, bringing its new price to Rs6,050,000, up from Rs5,930,000.

In the Sportage lineup, the Sportage Alpha has experienced a hike of Rs250,000, resulting in a new price of Rs7,300,000 compared to its previous price of Rs7,050,000. The Sportage FWD has also seen a price increase of Rs250,000 and now costs Rs8,190,000, up from Rs7,940,000. Similarly, the Sportage AWD has been raised to Rs8,820,000 from its previous price of Rs8,570,000, reflecting a jump of Rs250,000. The newly introduced Sportage Black Edition previously carried a price tag of Rs9,050,000, but after an increase of Rs250,000, it now costs Rs9,300,000.

Moving on to the Sorento models, the Sorento 2.4L FWD has seen a price hike of Rs400,000, bringing its new price to Rs10,800,000 from the previous Rs10,400,000. Similarly, the Sorento 2.4L AWD now costs Rs11,700,000, reflecting an increase of Rs400,000 from its previous price of Rs11,300,000. Finally, the Sorento 3.5L FWD has been priced at Rs11,390,000 instead of Rs11,790,000, also representing a jump of Rs400,000.

The price of the KIA Grand Carnival Executive remains unchanged at Rs16,750,000.

The company stated that all Kia cars can be booked with full payment and price lock, except for the Carnival Executive, which is available for partial payment. Orders placed in June or earlier with full payments credited by July 5, 2023, will be delivered at the existing ex-factory price. The ex-factory prices mentioned do not include freight and insurance charges, and any new or additional duties and taxes imposed by the government at the time of delivery will be borne by the customer, as stated in the company notification.

Published in The Express Tribune, July 6th, 2023.

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