Kia Lucky Motors has once again raised Kia car prices without mentioning any reason in the circular.
The notification by the carmaker thanked its dealers for the support and mentions that the revised prices will be implemented from May 6, 2023.
Kia Lucky Motors raised the car prices of the KIA Sorento and Carnival minivans and SUVs. Here is the updated automobile pricing.
The Sorento 2.4L FWD now costs Rs. 10,400,000 instead of the previous Rs. 10,040,000 due to a Rs. 360,000 price rise.
Similarly, a few days ago, the Sorento 2.4L AWD cost Rs. 10,890,000. At this time, it is Rs. 11,300,0000. This represents a staggering differential of Rs. 410,000.
Last but not least, the price of the Sorento 3.5L FWD has increased to Rs. 11,390,000 from Rs. 10,890,000 for the Sorento 2.4L AWD. Additionally, it has increased by Rs. 500,000.
The pricing of the KIA Grand Carnival Executive has increased by Rs. 500,000 from its previous price of Rs. 16,250,000.
Several auto manufacturers increased car prices in the wake of the huge depreciation of the local currency against the US dollar. Besides the rupee devaluation, the government slapped huge taxes on the car industry, resulting in another series of price increases.
Kia Corporation formerly known as Kyungsung Precision Industry and Kia Motors Corporation, is a South Korean multinational automobile manufacturer headquartered in Seoul, South Korea. It is South Korea’s second-largest automobile manufacturer, after its parent company, Hyundai Motor Company, with sales of over 2.8 million vehicles in 2019.
As of 2015, the Kia Corporation is minority owned by Hyundai, which holds a 33.88% stake valued at just over US$6 billion. Kia in turn is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% up to 45.37%, totaling more than US$8.3 billion.
