In Pakistan, car prices have been revised quite frequently over the past three to four years. However, recently, the revisions have not only increased in frequency—almost every three months, especially over the past 12 months—but the increases have also been quite significant, pushing the cost of regular cars past the point of sanity.
Yes, the value of the currency has decreased significantly, and transportation costs have grown significantly as a result of the epidemic, but this has affected practically every automotive market in the world, not just Pakistan. But the peculiar rate at which automobile costs rise in our nation cannot be compared to that of any other nation on the planet.
The cost of Kia cars in Pakistan has lately received yet another boost from Lucky Motor Corporation (LMC), the company that assembles them there. The prices of Kia automobiles have increased in Pakistan for the fifth time since November 2021 and for the fourth time in the calendar year 2021. Kia prices have increased after 48 days on average 5 times during the past 9 months.
The high pricing of other automobiles that are comparable to the rest of the world in terms of age won't be condemned in the same way that they are for the old and out-of-date cars that have outlived their usefulness in the rest of the globe. The Picanto hatchback is one such example from Kia's local lineup; the second generation (facelift) of this vehicle was unveiled in Pakistan over two years after the third generation model made its international debut.
By worldwide standards, the Picanto we are using today is 12 years old and made its premiere at the Geneva Motor Show in March 2011. The outdated 2nd generation Picanto now actually costs PKR 31.0 lac for the manual and PKR 32.0 lac for the automated version after the most recent price rise. Since it debuted in our market in 2019, the car, recognized as a direct rival to the Suzuki Cultus (Celerio), has been more expensive. Picanto has now priced PKR 4.38 lac more than the Suzuki competitor with the most recent price rise (keep in mind that Suzuki has not yet announced the price hike).