The Pakistani auto market recently witnessed a significant shift when Lucky Motor Corporation slashed the prices of KIA’s Stonic by a staggering 24 percent. This move came amidst a challenging period for the industry, with dwindling sales prompting anticipation of price reductions.
Following the substantial price drop, KIA halted bookings for the Stonic model, which had seen a surge in demand as customers rushed to take advantage of the reduced rates. Lucky Motors announced the temporary suspension of bookings to manage the overwhelming response.
Although bookings have been temporarily suspended, the company assured customers that existing orders scheduled for delivery until September 2024 would be honored. Future bookings will commence in October, contingent upon market dynamics and stock availability.
“For the benefit of our valued customers, we would like to emphasize that we will be giving ‘price lock’ on orders booked on full / partial payment up to September deliveries,” the statement said.
To provide reassurance to customers, Lucky Motors introduced a ‘price lock’ mechanism for orders booked with full or partial payments until September deliveries. However, the new pricing structure remains subject to potential changes in government duties, taxes, and levies, which may impact the final cost for customers.
The revised prices for the KIA Stonic models in Pakistan are as follows:
- KIA Stonic EX: PKR 5,350,000
- KIA Stonic EX+: PKR 4,767,000
This adjustment reflects the company’s commitment to offering competitive pricing while navigating market fluctuations and regulatory changes.
