Lucky Motor Corporation Limited (LMCL) has increased the prices of all Kia Cars except Picanto and Carnival. The company cited the increase in General Sales Tax (GST) as the reason for the hike.
It is worth noting that the company has only increased the prices of its crossover SUVs. Effective March 8th, the new prices are as follows:
|Model||Old Price (Rs.)||Revised Price (Rs.)||Increase (Rs.)|
Since the start of 2023, car prices have risen significantly, causing a decline in demand for new cars. Car sales have also gone down due to a decline in production.
Despite that, Kia has witnessed a slight increase in sales, with Sportage being its best-seller. According to an update from autojournal.pk, Kia sold 346 units of Sportage in January, making it the best-selling vehicle in its lineup.
Although, with the ongoing economic issues and the recent tax rate hike, the sales trend may once again dip.