The latest price hikes – just before the recent price cuts – have shifted the landscape of the Pakistani car industry. C-segment crossovers have witnessed a huge rise in prices, in particular, and have become niche products.
For a long time, Kia Sportage has been a top performer in its segment, with value for money being its hallmark. However, it is now a far cry from the cheap crossover that it once was, which also holds true for its competitors.
Here’s how much the prices of Sportage and its competitors have gone up since August 2021 (or since launch):
Note: This comparison only includes compact crossover SUVs of Pakistan.
|Variants||Price in August 2021 (Rs.)||Prices in August 2022 (Rs.)||Increase (Rs.)|
|GLS Sport FWD||4,979,000||6,899,000||1,920,000|
|DFSK Glory 580|
|2.0T AWD||7,499,000 (Launch Price)||8,499,000||1,000,000|
|Toyota Corolla Cross|
A Widespread Issue
Earlier this month, HACL, Toyota Indus Motor Company (IMC), Pak Suzuki Motor Company (PSMC), Kia Lucky Motor Corporation (KLMC), announced non-production days due to a delay in the letter of credit (LC) approval for the CKD imports.
Also, the latest data from Pakistan Automotive Manufacturers’ Association (PAMA) showed a massive decline in July 2022 sales. PSMC, IMC, and HACL witnessed a huge drop in sales, while Hyundai Nishat Motor Company Limited (HNMPL) didn’t sell a single unit of Elantra and Sonata last month.
Industry experts expect a further decline in sales in the future due to devastating inflation, price hikes, and recurring production halts.