KIA Stonic Price Hike in Pakistan, Increased by Rs 733,000

KIA Stonic Price Hike in Pakistan, Increased by Rs 733,000

Kia Pakistan has recently announced a price increase for its popular subcompact crossover SUV, the Kia Stonic. This adjustment follows a significant price reduction in April 2024, which had temporarily boosted sales and customer interest.

Price Update

The new price for the Kia Stonic is Rs 5,550,000, reflecting an increase of Rs 733,000 from the previous limited-time offer price of Rs 4,767,000. This substantial hike accounts for changes in market dynamics and cost considerations.

Booking Resumption with Conditions

Following the discount, Kia Pakistan experienced overwhelming customer response, leading to temporary stock limitations and a suspension of bookings. Bookings for the Kia Stonic EX+ variant have now reopened with revised terms:

Delivery Timeline: Deliveries for new bookings made on or after July 1, 2024, are scheduled to commence from December 2024 onwards.

Partial Payment Requirement: A partial payment of Rs 2.5 million is mandatory to secure a booking.

Conditional Price Lock: Customers making partial payments will benefit from a price lock for deliveries scheduled in December 2024 and January 2025, with specific conditions:

Any significant depreciation of the Pakistani Rupee (PKR) exceeding 2 percent against the US Dollar (USD) will be reflected in the final price.

Customers will be responsible for any increase in import duties, taxes, or levies imposed by the federal or provincial governments at the time of delivery.

Market Impact

The pricing adjustment and new booking strategy are likely to sustain interest among car buyers seeking a subcompact crossover SUV in the Pakistani market. Despite extended wait times and conditional price locks necessitating careful consideration, the Kia Stonic remains a compelling option in this segment.

While the increased price might impact customer decisions, the brand’s reputation for quality and the vehicle’s features continue to make it an attractive choice.