List of Reduced Car Prices Of KIA Picanto, Sportage & Sorento, Honda United Motors and Prince-DFSK

After the announcement of Auto Policy (2021-2026) United Motors, Prince-DFSK, Honda and KIA Lucky Motors has reduced it’s car prices. As per a notification, Kia has decreased the prices of KIA Picanto, KIA Sportage and KIA Sorento. The new prices are going to be applied from July 1st, 2021.

New Prices:

KIA Picanto: 

 KIA Picanto 1.0L A/T got a price reduction of Rs127,791, as its old price was Rs2,049,000, and new expected price is Rs1,922,000. Furthermore, the Picanto 1.0L M/T price has got a cut of Rs118,000, meaning it has come down to Rs1,781,000 from Rs1,899,000. 

KIA Sportage: 

The prices of two variants of Sportage have decrease by Rs. 129,000 and Rs. 117,000,  respectively.  It means the rate of Sportage AWD has come down to Rs5,270,000 from Rs5,399,000. Meanwhile, the new price of Sportage FWD is Rs4,782,000 against its old rate of Rs4,899,000.

Lastly, the base model, Sportage Alpha saw a decrease of Rs105,000. It means the new rate of this car is Rs4,294,000 against its old price of Rs4,399,000.

KIA Sorento: 

Lastly, the prices of  three variants of KIA Sorento, has also come down. The first one is Sorento 2.4 AWD and it got a price reduction of Rs187,000. The old price of this One-Unit vehicle was Rs7,999,000 and the new rate is Rs7,812,000. Then comes the second variant, Sorento 2.4 FWD, which got a price decline of Rs163,000 and dropped to Rs6,836,000 from its old rate of Rs6,999,000. 

Lastly, the third variant, Sorento 3.5 FWD, got a cut of Rs196,000, taking the price to Rs8,203,000 from its previous rate of Rs8,399,000.

The reduction in price is surely great by the KIA Motors Pakistan. The price decrease would lead to more sales KIA and other companies (if they also reduced rates). So, a good days ahead.

KIA prices
credit: pakwheels

Honda Civic: 

The price of Honda Civic 1.5 RS Turbo is decreased by Rs135,000, taking the price down to Rs4,564,000 from previous rate of Rs4,699,000.

The second one, Civic 1.8 i-VTEC CVT‘s price is reduced by Rs115,000. The old rate of this car was Rs3,729,000, while the new price is Rs3,614,000. Finally, the price of Civic Oriel 1.8 i-VTEC CVT is decreased by Rs115,000, taking it to Rs3,864,300 against the previous rate Rs3,979,000.

Honda BR-V: 

Finally, the rate of BR-V i-VTEC S A/T is reduced by Rs105,000. The new price of this variant is Rs3,374,000 against its old rate of Rs3,479,000.

On July 7th, the federal government announced Auto Policy. Addressing a press conference, Federal Minister for Industries and Production, Khusro Bakhtiar shared the details of new policy. As per the minister, important points of the new policy are:

Steps Against ‘ON Money’ Culture

  • Rs50,000 to Rs200,000 Withholding tax will be applied if the first registration is not in the name of the person who booked the vehicle
  • If the car manufacturer delay the car for over 60 days (2 months), the company will pay KIBOR + 3%
  • Maximum upfront payment on car booking not to exceed 20% of the invoice value

As per an official notification issued by the Automakers, the two cars of United Motors, namely, the Alpha and the Bravo, and the one car of Prince-DFSK, namely Pearl,  shall now be sold at the following prices:

VehiclesOld Price (PKR)Price Cut (PKR)Revised Price (PKR)
United Bravo1,099,00069,0001,030,000
United Alpha1,445,00095,0001,350,000
Prince Pearl1,199,00088,0001,111,000

United Motors garnered a lot of praise from the public and the analysts the last time when they reduced the prices of their vehicles following an appreciation in the value of the local currency.

Shortly before the resumption of economic activity activities, though, United Motors announced a massive price hike of Rs. 240,000 for Bravo, after which the price of the vehicle went from Rs. 985,000 to Rs. 1,199,000. The company said that the increase in price was due to a massive depreciation of the local currency. Around the same time, Prince-DFSK had also announced a price increase for the Pearl.

However, even after the price cut, the company couldn’t quite capture the market to the same degree as its competitors in the segment of small cars. The same could also be said for Prince Pearl, despite its low price.

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