KIA Pakistan will not decrease its Prices as Rupee recovery against USD

Last Updated: August 19, 2022By Tags: , , ,

KIA Motors Pakistan has decided not to decrease the prices of its cars despite Pak Rupee recovery against USD.

Recently in Pakistan, there was a massive price hike in the Automotive industry. Prices jumped to approx 1 million Plus for all the Cross Over SUVS & approx 400,000+ for other hatchbacks and Sedans. This was because of Pakistani Rupee crashed against US Dollar for about 240 PKR.

These price hikes have made buying cars unaffordable for most of the residents in Pakistan. In August we witnessed a very sharp recovery of PKR against USD trading at 210 PKR. This was shocking as it is one of the fastest yet biggest recoveries.

Now the brands especially from the Automotive sector were forced to revise their prices. Toyota, Suzuki, & Honda reduced their prices but were not reversed & were reduced at a lower margin than what they increased.

As per a recent press release, KIA Pakistan which previously increased its prices up to 14% mentioned that this was lower than other brands in the market leaving them no room for price correction after the US dollar devalues against PKR.

Are you satisfied with the following statement from KIA Pakistan?

We hope that this blog was helpful to you. Do let us know in the comments which car would you prefer to buy after reading this.

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