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Kia Increases Prices Up to Rs. 1.3 Million After Stopping Bookings

The relentless depreciation of the Pakistani Rupee has set off a new price hike saga that is wreaking havoc on the people. The latest to join that saga is Kia Lucky Motor Corporation (KLMC), which has increased its prices by up to an eye-watering Rs. 1.3 million.

Starting today, the new prices of all KLMC vehicles are as follows:

Variants Old Prices (Rs.) New Prices (Rs.) Increase (Rs.)
Picanto M/T 3,100,000 3,200,000 100,000
Picanto A/T 3,200,000 3,400,000 200,000
Sportage Alpha 6,250,000 6,500,000 250,000
Sportage FWD 6,750,000 7,000,000 250,000
Sportage AWD 7,250,000 7,650,000 400,000
Stonic EX 4,545,000 4,800,000 255,000
Stonic EX+ 4,848,000 5,250,000 402,000
Sorento 2.4 FWD 7,800,000 8,400,000 600,000
Sorento 2.4 AWD 8,500,000 9,100,000 600,000
Sorento V6 FWD 8,500,000 9,100,000 600,000
Carnival GLS+ 13,699,000 15,000,000 1,301,000

Production Shut Down

Last week, KLMC shut down bookings for its entire lineup. An official press release from the company states that:

Owing to the recent significant volatility of US Dollar against Pakistani Rupee, we have no other option but to temporarily suspend the bookings of all Kia vehicles. We would like to affirm that once the USD parity with PKR stabilizes, we will resume the bookings for all Kia vehicles.

Shortly, after, Peugeot — the other automaker under Lucky Motor Corporation’s purview — also stopped bookings.

This is a curious development as the company recently announced a price lock offer for its cars. A report from claimed that the company has an abundant stock of cars, which it aims to sell before bringing in new inventory.

The ongoing economic situation has thrown all certainty out the window, creating a state of panic in the industry and the people.

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