After the current administration loosened import limits, manufacturers began passing the benefit along to customers. All of Lucky Motors Corporation Limited’s (LMCL) vehicles can now be reserved for the same price.
According to a dealer spokesperson, the corporation opened reservations with a one-month delivery window.
Prior to now, KIA Lucky Motors announced in a notification that it will not cut the price of its vehicles like other market players.
KIA Resumes Bookings Of All Its Models
Automakers began passing on the effect after the incumbent government loosened import restrictions. It has resumed bookings of all its models at the same price at Lucky Motors Corporation Limited (LMCL). pic.twitter.com/IGnj7s6rDZ
— The Car Guys (@Thecarguys_pk) August 25, 2022
Justification for the Car Price Retention
KIA Lucky Motors came out with a different statement after the local auto market noticed that businesses were lowering their automobile prices in response to the rupee’s rise against the dollar.
The company published a comparison table to show that their price rise for cars was 14% while other companies’ price increases ranged from 19 to 23%. Moreover, once businesses announced price reductions, their prices increased once more to 15% while KIA prices were already at that level. Therefore, their current pricing remain lower than those of other businesses. Consequently, the 22nd of July price increase for KIA vehicles will not change.
The business also disclosed:
“Dear Respected Clients,
Since LMC has always prioritised its customers, we have made the historically unheard-of choice to keep our car prices unchanged for more than two years following the introduction of our flagship models, with an average of just one revision over the previous four years.
The price increase was unavoidable, despite the fact that businesses have been compelled to adopt a wait-and-see approach to monitor exchange rate fluctuations to determine where prices will go. Given the significant devaluation of the PKR against the USD, we recently raised prices by 14% on July 18 to help support our business. At the same time, other players in the market decided to raise prices by 19% to 23%, but this decision has recently been reversed to bring the increase at parity with Kia.