KIA is shaking things up in the Pakistani car market with a whopping 25% price slash on their Stonic EX+ model. Lucky Motor Corporation made this announcement just weeks after the company lowered prices on their Sportage SUV.
While KIA frames it as a “celebratory limited-time offer” marking five years of local operations, analysts suggest it’s more about boosting sales. Usama Rauf, an auto sector expert, points to the Stonic’s underwhelming performance, averaging less than 100 units sold per month.
The new price tag brings the Stonic EX+ down to Rs.4,767,000, a significant drop from its previous Rs.6,280,000. This aggressive move aims to position Stonic as a competitor in the sedan market in the same price range.
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However, industry experts like Rauf believe the overall auto market remains sluggish due to high interest rates. He suggests a drop below 15% and an increase in the auto financing cap could offer real relief. Mohammad Abrar, another analyst, sees this price cut as a strategic move to recapture market share in a fiercely competitive landscape.
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