Lucky Motors jacks up KIA car prices up to Rs0.59 million

Lucky Motors jacks up KIA car prices up to Rs0.59 million

Lucky Motor Corporation (LMC) has announced to increase KIA car prices up to Rs0.59 million. The revised prices of KIA vehicles have been effective from March 10, 2023.

KIA raised the car prices after imposition of 25 per cent sales tax on cars with engine capacity of 1400cc and above.

FBR issued the following list containing details of locally manufactured cars on which sales tax at 25 per cent will be applied.

  1. Locally manufactured or assembled SUVs and CUVs.
  2. Locally manufactured or assembled vehicles having engine capacity of 1400cc and above.
  3. Locally manufactured or assembled double cabin (4×4) pick-up vehicles.

Moreover, the uncertain economic situation of the country and volatile exchange rate has increased cost of production of LMC, compelling it to increase retail selling prices and pass on the burden to market.

Following are the new prices of Kia Sportage:

The price of KIA Sportage Alpha is increased by Rs400,000 to Rs7,050,000 as compared to previous price tag of Rs6,650,000.

The price of KIA Sportage FWD is increased by Rs440,000 to Rs7,790,000 as compared to previous price tag of Rs7,350,000.

The price of KIA Sportage AWD is increased by Rs470,000 to Rs8,370,000 as compared to previous price tag of Rs7,900,000.

Following are the new prices of Kia Stonic:

The price of KIA Stonic EX is increased by Rs300,000 to Rs5,200,000 as compared to previous price tag of Rs4,900,000.

The price of KIA Stonic EX+ is increased by Rs330,000 to Rs5,730,000 as compared to previous price tag of Rs5,400,000.

Following are the new prices of Kia Sorento:

The price of KIA Sorento 2.4L FWD is increased by Rs540,000 to Rs9,540,000 as compared to previous price tag of Rs9,000,000.

The price of KIA Sorento 2.4L AWD is increased by Rs590,000 to Rs10,390,000 as compared to previous price tag of Rs9,800,000.

The price of KIA Sorento 3.5L FWD is increased by Rs590,000 to Rs10,390,000 as compared to previous price tag of Rs9,800,000.

READ MORE: Indus Motors increases car prices after imposition of 25% sales tax