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Thursday, June 6, 2024

Kia announces big discount on all Sportage models

Kia Lucky Motor Corporation (KLMC) has announced a limited time discount offer with a significant reduction in the price of Kia Sportage in Pakistan.

All Sportage models will now cost significantly fewer thanks to a special offer from Kia Lucky Motor Corporation (KLMC).

The change occurs despite the company’s announcement that it will maintain the new prices even while the rupee appreciated against the US dollar (USD).

It is important to note that the KLMC has not specified a deadline for the limited-time offer. Additionally, it frequently announces price cuts on its products, as shown with the Sorento price cut earlier this year and the Sportage price cut in 2019.

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The bookings for Kia automobiles were previously reopened by Lucky Motor Corporation Limited (LMCL), which had decided to keep the inflated rates in place despite the rupee’s value rising and the government’s decision to loosen import restrictions.

A dealership spokesperson told ProPakistani that the business is accepting reservations for all models with a minimum one-month delivery time in this regard.

In a conversation earlier this summer, President Automotive Division Lucky Motors Muhammad Faisal had told Profit that he expects volumes to be down by 40-50 percent in FY 2022-23 compared to FY 2021-22. This discount is a likely attempt for KIA to circumvent the slow market that the industry is experiencing.

The novelty of the discount is that the KIA Sportage Alpha is now Rs100,000 cheaper than the Peugeot 2008 Allure which saw its price increase hours before KIA’s decision. The two are likely to eat into each other’s sales as both are crossover SUVs (CUVs). The pricing decision also comes weeks after Haval’s decision to introduce the completely-knocked-down (CKD) edition of their CUVs and days after Honda’s announcement that their HR-V will be released very soon.

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Disregarding the Allure 2008 and the Sportage Alpha possibly cannibalizing each other’s sales, the discount on the Sportage increases its appeal. Furthermore, taken alongside 2008 Active, it adds to Lucky Motors’ possible corporate strategy to compete against B, C, and D segment sedans with a complete CUV offering.