Kia Lucky Motor Corporation (KLMC) has announced that it will maintain its new prices even with a substantial rise in the Rupee’s value against the US Dollar (USD).
In an official public notification available with ProPakistani, the company argued that it had increased its car prices by 14%, which was a significantly smaller margin compared to that of automakers who hiked the prices of their cars by 19-23%.
It added that other automakers reduced their prices to provide relief to the consumers due to their previous huge price bumps. Although, the latest reduction has brought the prices back down to 15 percent from 19 percent, while Kia’s price already stands at 14 percent. A statement in the notification reads:
We are happy to see that in the greater interest of the market and its customers that the prices have been corrected to bring them at a fair level and we feel great pride in creating a precedent and setting a benchmark for everyone in terms of price setting.
So far, Toyota Indus Motor Company (IMC), Pak Suzuki Motor Company (PSMC), Honda Atlas Cars Limited (HACL), United Motors, and Master Changan Motors Limited (MCML) have reduced the prices of their cars due to the recent appreciation of PKR against USD.
However, after the recent notification, KLMC’s prices will remain the same.
