Lucky Motor Corporation (LMC) announced to increase prices of KIA vehicles amid poor economic conditions. The revised prices are effective from May 06, 2023.
In response to the current economic crisis and unstable value of the local currency against the US Dollar, LMC has announced an increase in prices for its KIA vehicles.
Effective May 06, 2023, the price hike has been set at up to Rs500,000, making some of the company’s minivans unaffordable for many customers.
The KIA Sorento and KIA Carnival are among the vehicles impacted by the price increase. LMC has raised the prices for all variants of the KIA Sorento, with the 2.4L FWD now costing Rs10,400,000, indicating an increase of Rs360,000 from its previous price of Rs10,040,000.
Similarly, the 2.4L AWD will now cost Rs11,300,000, indicating an increase of Rs410,000 from its previous price of Rs10,890,000.
The 3.5L FWD model has seen a price increase of Rs500,000, which now costs Rs11,390,000 compared to its previous price tag of Rs10,890,000.
As for the KIA Carnival GLS EXEC, its price has been raised by Rs500,000, with the vehicle now costing Rs16,750,000 compared to its previous price of Rs16,250,000.
The decision to raise prices could be necessary due to the current economic uncertainty and the devaluation of the local currency against the dollar. The move will likely have an impact on the purchasing decisions of customers, especially those looking to buy minivans from the company.
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DISCLAIMER: PkRevenue has no responsibility for the correct prices. Because prices are subject to change due to variation in Rupee/Dollar parity and imposition of duty and taxes.