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.
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KIA announces new prices of cars after increase in sales tax
Lucky Motor Corporation has announced the new prices of KIA cars after increase in sales tax. The revised prices of KIA vehicles have been effective from March 01, 2023.
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KIA increases car prices after imposition of new taxes
Lucky Motor Corporation (LMC) has increased the prices of KIA cars after imposition of new taxes and devaluation of Pakistani Rupee (PKR) against US Dollar.
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Rupee crash compels KIA to increase car prices
Lucky Motor Corporation (LMC) has announced to increase the prices of KIA cars due to unprecedented devaluation in Pakistani Rupee (PKR) against US dollar (USD). The revised prices of KIA vehicles are effective from January 31, 2023.
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Rupee crash compels KIA to suspend car bookings
Lucky Motor Corporation (LMC) on Friday announced to suspend all the bookings of KIA vehicles due to the significant fall in the Pakistani Rupee (PKR).
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Price, specs of KIA Picanto in Pakistan
KIA Picanto was launched in Pakistan in September, 2019. The car is locally manufactured by Lucky Motor Corporation.
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KIA Motors maintains prices in Pakistan
KARACHI: KIA Motors has announced to maintain car prices in Pakistan.
Lucky Motor Corporation (LMC) is a Pakistani automobile manufacturer which is a part subsidiary of South Korean automobile manufacturer Kia Motors.
The press release issued by Lucky Motors stated that LMC has always believed in being fair and transparent in our pricing policy; being a customer centric company we took the unprecedented decision to maintain our vehicle prices for over 2 years since the launch of our flagship models; revising the same at an average of only once over the past 4 years.
READ MORE: KIA Motors introduce new Executive variant of Carnival in Pakistan
While companies have been forced to take a wait and watch strategy to monitor the fluctuation in the exchange rate to see where prices will go, the increase was inevitable.
To help sustain our business, we recently increased the price by 14 per cent on the July 18, 2022; which we feel was a reasonable increase given the significant devaluation of the Pakistani Rupee against US Dollar; whereas during the same period, other industry players had taken the decision to increase prices between 19 per cent and 23 per cent, which has very recently been corrected to bring the increase of parity with Kia, as can be seen in the table below.
Price Increase Kia Industry July, 2022 14 per cent 19-23 per cent Correction No Change 6-9 per cent After Correction 14 per cent 15 per cent READ MORE: Prices of KIA Motors raised up to 19.3% amid rupee devaluation
We are happy to see that in the greater interest of the market and its customers the price have been corrected to bring them at a fair level and we feel great pride in creating a precedent and setting the benchmark for everyone in terms of price setting.
Keeping the above in mind, we will be maintaining our prices at this time.
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KIA Motors introduce new Executive variant of Carnival in Pakistan
KARACHI: KIA Lucky Motors introduced the new ‘Executive’ variant of Carnival in Pakistan. The car features more power, more controls, more space and even more functions.
The car is available in the exterior colors of Snow White Pearl, Silky White, Ceramic Silver, Aurora Black Pearl, Panthera Metal, Astra Blue, Deep Chroma Blue and Flare Red.
According to the KIA Lucky Motors, following are the details of the new variant of KIA Carnival.
The car has infinitely adaptable interior and easy access from every angle, the Carnival puts you in total control. It can take a large group of family or friends as far as the roads can reach, with ample space to accommodate the gear for adventurers, the tools of artisans or furniture to bring home from the store.
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The Sliding doors make for quick entries and exits, and a puddle lamp shows you where you’re stepping after dark. The same technological advances that keep the interior so quiet on the highway also help shut out city noises to create a calming oasis of comfort.
From the futuristic headlamps embedded into the tiger-nose grille to the broad, dramatic stripe of the rear tail lamps, fresh details establish a luxurious new design vernacular among people movers. Sleek body lines serve an aerodynamic purpose, while the expansive windows and dual sunroof complement the cabin’s feeling of openness.
Carnival’s upscale and sophisticated interior puts the driver in command by enabling quick choices with minimal distraction through the use of steering wheel controls, or by tapping on the intuitive center-console screen.
READ MORE: Prices of KIA Motors raised up to 19.3% amid rupee devaluation
The Carnival presents everything on a need-to-know basis, filtering out what’s not absolutely necessary. The cockpit is designed and engineered to help you focus on the key information while your mind stays on the road and what’s around you.
The supervision cluster helps you stay focused and informed, with data like remaining distance to empty and fuel consumption, navigation cues, and outside temperature.
View and select audio functions on the 8-inch display. Choose audio sources, tune in to radio stations, and adjust audio quality to taste by using convenient controls mounted on the steering wheel. With wireless phone projection, the display of a compatible phone can be viewed on the center touchscreen.
Now with up to 15W of electric power, the charging pad in the Wireless Charging Tray bin lets you charge compatible mobile phones wirelessly. The indicator shows orange while charging and turns green when charging is complete.
READ MORE: KIA launches sportage vehicle in Pakistan
With firm, welcoming seats, enviable headroom, and tasteful materials, the Carnival comfortably accommodates every individual occupant. From the ways the doors slide to how the seats can be adjusted and moved, the interior is engineered to make the ride a joy for everyone inside.
Seating options let you fit up to eleven people, while some or most seats can be removed to make way for cargo. So you have the luxury to choose between accomodating more people or more luggage.
The quieter gasoline engines of the new Carnival offer significant fuel savings through improved cooling and reduced friction. The 8-speed automatic transmission offers smooth gear changes, with more gear ranges to achieve the perfect balance of economy and power.
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Prices of KIA Motors raised up to 19.3% amid rupee devaluation
KARACHI: Lucky Motors Corporation Limited (LMCL), the manufacturers of KIA Motors in Pakistan, has announced massive increase up to 19.3 per cent in car prices effective from July 19, 2022 due to sharp depreciation in rupee value against the US Dollar.
According to a press release issued on Tuesday, the car maker stated that due to continuous devaluation of the Pakistani Rupee to the US dollar the company was compelled to increase the prices of KIA products effective from July 19, 2022.
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Following are the existing and revised prices of various models of KIA Motors:
Picanto MT has been increased by 19.3 per cent to Rs3.1 million from Rs2.6 million.
Picanto AT has been increased by 18.52 per cent to Rs3.2 million from Rs2.7 million.
Stonic EX has been increased by 1.8 per cent to Rs4.55 million from Rs4.47 million.
Stonic EX+ has been increased by 2 per cent to Rs4.85 million from Rs4.77 million.
Sportage Alpha has been increased by 16.82 per cent to Rs6.25 million from Rs5.35 million.
Sportage FWD has been increased by 15.19 per cent to Rs6.75 million from Rs5.86 million.
Sportage AWD has been increased by 13.99 per cent to Rs7.25 per cent from Rs6.36 per cent.
Sorento 2.4L FWD has been increased by 13.04 per cent to Rs7.80 million from Rs6.90 million.
Sorento 2.4L AWD has been increased by 12.29 per cent to Rs8.50 million from Rs7.57 million.
Sorento 3.5L has been increased by 12.29 per cent to Rs8.50 million to Rs7.57 million.
Carnival GLS PP has been increased by 9.57 per cent to Rs12.6 million from Rs11.5 million.
The company further said that price revision is effective from July 19, 2022 and would not be applicable to customers, who had already made full payment by July 18, 2022 as well as those customers whose PBO delivery commitments were of June 2022 or before.
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According to the terms and conditions the company said all customers who had paid the full amount and the same is realized in the LMC bank account till July 18, 2022 would qualify for existing ex-factory price. However, government taxes including withholding tax and capital value tax would apply as per the federal budget 2022-2023.
“All customers who are sales tax registered but not active will be charged further sales tax at 3 per cent as per new Finance Act, 2022. This further sales tax will be part of ex-factory price for such customers,” the company added.
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Samsung mobile phones production to start with investment of $15 million in Pakistan
KARACHI: Lucky Motor Corporation Limited will start production of Samsung mobile phones with initial investment of $15 million in Pakistan.
Abdul Razak Dawood, Advisor to Prime Minister for commerce and Investment disclosed this on Saturday.
“I congratulate Lucky Group on partnering with Samsung Electronics. … to set up a mobile phone assembly plant with an initial investment of $15 million. It will create jobs.”
He said that this is the result of our mobile manufacturing policy. And a clear vindication of our ‘Make in Pakistan’ initiative.
The company issued a statement and announced production of Samsung mobile phones.
The company is manufacturing and assembly of motor vehicles. It is assembling KIA and Peugeot branded motor vehicles.
The company recently entered into an agreement with Samsung Gulf Electronics Co. FZE (Samsung) for producing Samsung branded Mobile Devices in Pakistan.