The economic downturn is still ongoing and so is the relentless wave of price hikes. In a recent development on that front, Kia has increased the prices of its midsize family haulers.
While the company did not highlight any particular reason for the hike, the local currency depreciation is the likely cause. Effective immediately, the new prices are as follows:
| Models | Old Price (Rs.) | Revised Price (Rs.) | Increase (Rs.) |
| Sorento 2.4 FWD | 10,040,000 | 10,400,000 | 360,000 |
| Sorento 2.4 AWD | 10,890,000 | 11,300,000 | 410,000 |
| Sorento 3.5 V6 FWD | 10,890,000 | 11,390,000 | 500,000 |
| Carnival 3.5 V6 FWD | 16,250,000 | 16,750,000 | 500,000 |
Kia’s momentum has declined recently amid economic issues and operational hurdles in Pakistan. The company was mentioned in the same discussion as Pakistan’s biggest carmakers in terms of market share up until mid-2022. But now, it is barely selling cars in the hundreds.
A recent report from autojournal.pk suggests that the company sold 747 locally assembled cars in March, witnessing a 7% Month over Month (MoM) increase in sales.
In March, Picanto and Stonic observed a healthy increase in sales, while Kia’s best-seller, Sportage, saw a decline. Despite that, Sportage remains Kia’s best-selling vehicle by a large margin.
Sorento remained the company’s worst-selling vehicle, with a major decline in sales. The latest price hike is likely to worsen the situation.
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