Car companies have sustained heavy blows to their sales and revenues due to ongoing inflation and slowed production. As a result, several are downsizing operations to manage expenses and ensure their well-being.
Recently, Lucky Motor Corporation Limited (LMCL) publically announced the shutdown of four dealerships across Pakistan. The official press release did not highlight a reason for the shutdown.
The following dealerships have been closed:
- KIA Motors Hanna Lake, Quetta
- KIA Motors Chenab, Gujrat
- KIA Motors Avenue, Dera Ghazi Khan
- KIA Motors Gateway, Mardan
Kia’s momentum has declined significantly compared to the last two years due to ongoing economic issues. The company was mentioned among Pakistan’s biggest carmakers in terms of market share up until mid-2022. But now, it is barely selling cars in the hundreds.
The company’s sales saw a minor increase in June, but not enough to make a difference. Although it is understandable as, under the current circumstances, all automakers in Pakistan are walking on wafer-thin ice.
this is sad news for us Pakistani
Bcoz ov overpriced no one would like to buy it
The prices have exorbitantly escalated from 5.00 million to 8.000 million plus who would afford it now…. illogical price rise
This is the only company which looted Pakistan people the most. They delivered cars of 2021 bookings in 2023 against which they received full prices but they demanded huge difference prices even in millions for 1000cc car. Currently this company is facing large number of cases in courts.
Also they sell the outdated model of Sportage here in Pakistan, model which is currently on sale across America & Europe. Their cost was significantly less than those who were selling new models. Still they looted with both hands & now where they stand. It all came back to them.
Nice
Main reason is dollars value and fuel price increase.
Inflation is not the main reason.
But over prices cars are the main reason they have increase prices unnecessary in the market. Very high ratio of profits by the company is the main reason.
END of Pakistan has begun