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Economy

Kia Motors Introduces Updated Pricing for Stonic Model

Kia Motors

Kia Motors has made headlines with another pricing update for its popular crossover, the Stonic, setting it now at Rs 6,028,000.

This move follows a recent discount where the price had been slashed to Rs 4,767,000 in an effort to stimulate sales.

Initially, Kia’s decision to drastically reduce the Stonic’s price from Rs 6,280,000 to Rs 4,767,000 was a strategic move aimed at attracting budget-conscious buyers.

While this price drop was welcomed by new customers, it understandably left some earlier buyers feeling discontented, having purchased the vehicle at the higher price point.

The discounted pricing strategy proved to be highly effective, generating a surge in customer demand that led Kia to temporarily suspend new bookings.

However, in an unexpected twist, Kia has now reopened bookings for the Stonic but with a notable price increase. The exact new price hasn’t been disclosed yet but is expected to exceed the previous discounted rate of Rs 4.7 million.

Effective July 1, all new Stonic orders will be scheduled for delivery starting December 2024 onwards, with a mandatory partial payment of Rs 2.5 million required at the time of booking.

Kia has also introduced a price lock mechanism for orders with partial payments, ensuring that customers won’t be affected by any fluctuations such as depreciation of the Pakistani rupee against the US dollar or potential increases in import duties and taxes by the time of delivery.

This pricing strategy shift reflects Kia’s efforts to balance market demand and economic factors, aiming to maintain competitiveness in the Pakistani automotive market while managing operational challenges and customer expectations.

As Kia continues to navigate these dynamics, the Stonic remains a significant player in the crossover segment, appealing to buyers seeking a blend of style, performance, and affordability in their vehicle choice.

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