Lucky Motor Corporation Limited (LMCL) dominated the market due to its stability in vehicle price, however due to volatility in the market such as devaluation of local currency, supply disruption and increase in tax, the KIA announced another price hike within 2 months.
Except Sorento and Carnival, every KIA models saw an increase in vehicle price.
KIA Picanto Price Increased
The first one is Kia Picanto M/T, the old price was Rs. 2,186,000 and saw a price hike of Rs. 214,000. The revised price for Picanto is Rs. 2,400,000. Meanwhile the Picanto A/T saw a jump of Rs. 208,000. The new price for the Picanto A/T is Rs. 2,500,000.
KIA Sportage Price Increased
Sportage Alpha, Sportage FWD and Sportage AWD all variant saw a price hike. KIA Sportage Alpha variant saw a rise of Rs. 236,000 and now sitting at Rs. 5,000,000. Meanwhile, Sportage front wheel drive (FWD) price was Rs. 5,276,000 and revised price is Rs. 5,500,000. The SUV saw a price hike of Rs. 224,000. Lastly, the top-of-the-line variant Sportage All-Wheel Drive (AWD) which was previously available at Rs. 5,788,000 and now with the price hike of Rs. 212,000, the vehicle new price is Rs. 6,000,000.
KIA Stonic Ex, Ex+ Price Increased
The Stonic Ex, and Stonic Ex+ also saw a massive price hike. The Stonic Ex now available at Rs. 4,150,000, which was previously available at Rs. 3,750,000. The car saw an increase of Rs. 400,000. Lastly, the Stonic Ex+ saw a massive price hike of Rs. 475,000. The new price for Stonic Ex+ is Rs. 4,450,000.
Effective immediately, the new prices are as follows:
|Variants||Old Price (Rs.)||Revised Price (Rs.)||Increase (Rs.)|
With the latest price increase in KIA vehicle, it is possible that other market leaders will follow the lead.