Lucky Motor Corporation increases KIA prices by up to Rs1.1mn

July 19, 2022 (MLN): On the back of the notable depreciation of the local currency and dismal macros, Lucky Motor Corporation Limited (LMCL) has increased the prices of KIA products by up to Rs1.1 million.

Accordingly, the KIA Carnival is now available at Rs12.6mn while Sorento’s variants are priced between Rs7.8mn to Rs7.5mn.

KIA Stonic EX and EX+ are open for booking at Rs4.54mn and Rs4.84mn, respectively. Meanwhile, KIA Picanto MT and AT are available at Rs31mn and Rs32mn, respectively after witnessing a surge of Rs500,000 each.

A letter issued by the company on Tuesday read, “We, at Lucky Motor, have always strived to be a customer-centric company by taking) decisions that are aimed at maximizing customer satisfaction.”

“Despite various economic factors beyond our control, we have always tried our utmost to make decisions that facilitate and positively impact our customers,” it added.

However, the company is compelled to increase the prices of Kia products with effect from July 19, 2022, due to the continuous devaluation of PKR.

Furthermore, booking of specific variants is being re-opened, it noted.

To facilitate the customers, the price revision is effective from July 19, 2022, and will not be applicable to customers who have already made the full payment by July 18, 2022, as well as those customers whose PBO delivery commitments were of June 2022 or before.

According to the terms and conditions notified by the company, all customers who have paid the full amount and the same is realized in the LMC Bank account till July 18, 2022, will qualify for the existing ex-factory price. However, Government Taxes including WHT and CVT will apply as per the Federal Budget 2022-23. To ensure the same, these customers are required to deposit the taxes by July 22, 2022.

All PB0s where delivery commitment is June 2022 or before will also not be charged with revised ex-factory prices. However, government taxes including WHT and CVT will be applied as per the Federal Budget 2022-23.

To ensure the same, these customers are required to deposit the balance payment and make their order ready for invoicing maximum by July 22, 2022, to qualify for the existing ex-factory price.

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