Both Kia and Toyota have bumped up the new car prices in Pakistan of their respective brands. There has been a consistent upward trend in price hikes of almost everything in Pakistan due to inflation. And our automotive industry is part of this trend. Car makers as well as motorcycle makers, and overall the generally affiliated automotive industries have all been increasing the prices of their respective products as soon as there is any change in dollar rate or if there is a change in international markets. The international supply chain has been hit badly since the start of the pandemic and it still hasn’t recovered yet. From chip shortage to basic raw materials, almost everything has seen shortages and delays.
The CEO of Toyota Indus Mr Ali Asghar Jamali had already hinted at the possible price hike. He said that considering the increasing cost of raw materials in the international market and the cost of importing those raw materials to Pakistan, the company will have to increase the prices of its cars sooner or later. And as predicted, Toyota Pakistan has increased the prices of its models.
Toyota Pakistan new car prices
The updated prices of Toyota Yaris, Corolla, Revo and Fortuner are as follows:
The prices are applicable from today; 10th November 2021. Please also note that these are ex-factory Karachi prices. People who were expecting delivery of their Toyota cars by the end of December 2021 will not be asked for additional payment whereas anyone who has booked a vehicle recently and is expecting delivery in January 2022 and onwards will be expected to pay the difference.
Toyota Indus Motors has seen some impressive gains in its sales despite in last few months despite all the prices hikes. The company celebrated selling 7001 vehicle in a month last month, a new highest record for the company since its inception. IMC has seen growth of almost 60% on a year-over-year in the first quarter of the fiscal year 2021-22 (Q1 FY21 vs Q1 FY22).
Kia Pakistan new car prices
Kia is currently offering 5 models in Pakistan including the newly launched Kia Stonic.
- Kia Picanto
- Kia Stonic
- Kia Sportage
- Kia Sorento
- Kia Carnival
And except for the Sorento, rest of the models have seen the price jump.
The update prices of Kia Picanto, Kia Sportage and Kia Carnival are as follows:It is intriguing to know that Kia Pakistan kept the same prices of their cars for almost 3 years. Where other automakers need an excuse to bump the price, Kia Lucky Motor kept it real. And maybe that is one of the many reasons why Kia Pakistan has seen such success in the Pakistani market and has quickly become a household name.
But considering it is quite a hefty increase from the previous sticker price of Kia cars, it will be interesting to see if consumers will remain interested in the brand even after this or not. Another reason why Kia cars were successful was the fact that they offered value for the money. Add a little more to the top of the line Corolla or Civic and you can get yourself a crossover; basically a bigger car and more bang for your buck.
Only recently, Kia Lucky Motor Corporation celebrated production of 50000 units in a little over 2 years. That is a massive achievement for a new automaker in Pakistan by any standards. And although rest of the models have sold in okayish numbers, it will not be wrong to say that the Kia Sportage is the actual star here. Sportage took the market by surprise with its overwhelming demand.
And considering the overall appeal of crossovers in Pakistan, Kia Stonic might also give tough time to sedans available in the similar price bracket.
But with this price increase, will Kia Pakistan be able to remain people’s first choice, that is something for which we will have to wait and see.