With its declining sales, Kia Lucky Motor Corporation’s (KLMC) decline from grace is becoming obvious. In November 2022, KLMC sold just over 290 units, down over 460 units or 61% from the month before, according to a recent report from Autojournal.pk.
The report highlights that the company is offering ready delivery of its cars and booking with price lock. It adds that KLMC has over a thousand vehicles in its inventory, yet the company isn’t doing well in terms of sales.
Kia Lucky Motor Corporation (KLMC) also announced that one of its dealerships in Karachi is shutting down permanently. The shutdown of the company-operated dealership, Kia Motors Shahrah-e-Faisal, will take effect from January 1, 2023.
The company further stated that the customers who booked their vehicles at the said dealership will get them from Kia Motors Lucky One — another company-operated dealership in Karachi situated in the Lucky One Mall.
As this information is likely to spread alarm and speculations among the public, the corporation has made it clear that the shutdown is simply due to the leasing agreement’s expiration.
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The rumour mill of a mass exodus of automakers is spiralling out of control as Pakistan’s economy is already on the verge of collapse, businesses are closing their doors, and people are losing their jobs left, right, and centre.
For now, none of the old or new companies have made any remarks on the ongoing situation. At this point, we can only hope that Pakistan’s auto sector can sustain the ongoing economic troubles.