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Kia Carnival Gets a Massive Price Hike

Lucky Motor Corporation Limited (LMCL) has announced a huge price bump for Kia Carnival. The only Completely Built-Up (CBU) vehicle in the lineup, Kia Carnival is well-liked among a small niche of car buyers.

Surprisingly, LMCL has only revised the price of just one variant of Kia Carnival — GLS+. Effective immediately, the new price is:

Model Kia Carnival GLS+
Old Price (Rs.) 9,999,000
Revised Price (Rs.) 10,499,000
Increase (Rs.) 500,000

LMCL has cited increasing freight costs and local currency devaluation as reasons for the hike. It clarified that the price does not include freight costs and that the customers will pay any applicable tax.

Market Condition

Toyota Indus Motor Company (IMC) and Pak Suzuki Motor Company (PSMC) had previously increased CBU car prices, citing the same reasons as LMCL.

According to market sources, all automakers will continue to announce price hikes due to challenges in trade and commerce around the globe.

They added, however, that these hikes will have little impact on vehicle demand and that their sales figures will continue to rise.

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