Kia Lucky Motors Corporation (LMC) is all set to introduce the Peugeot 2008 and Kia SUV Stonic in Pakistan this year.
Kia Lucky Motors is confirming the launch of the subcompact SUV Stonic next month. They are unsure of fixing the price range due to the constantly changing of currency.
Kia Lucky Motors to not Predict the Price Range
A company’s official said, “We don’t want to fix or predict the price right now.”
Just as Yesterday, the dollar hit a high price range in Pakistan at the rate of 168.94, jumping 16Rs in four months.
There is an existing reason behind the Kia Lucky’s hesitation to talk about the price. They are reluctant because of the up-down prices of dollars and rupees.
We all know that Pakistan’s Auto industry is mainly dependent on imported car parts. Especially the newcomers like Kia, which have not to restrain car parts much. So, whenever the dollar prices go up, the company’s cost production rises and vice versa.
According to some estimation, most car parts are made from 70% of imported parts, labeled CKDs (completely knocked down units).
Nevertheless, the experts are ready to theorize on the price, by given whatever is available in the market and of what they are familiar with the industry.
Kia Lucky to Compete with other Brands
Usman Ansari, the Auto Sector expert stated that he is expecting the SUV Stonic prices to be in the approximate range of Rs2.8 million to Rs3.3 million.
He wants to ensure that it will compete with the sedan car segment of Toyota Yaris, Proton Saga, Honda City, and Changan Alsvin.
Ansari also said, “But there’s no existing if direct competition to Kia Stonic in Pakistan.”
He explained, “It’s just a little bit larger than the Suzuki Swift by also smaller than the subcompact SUV Nissan Juke.”
“It’ll be a unique car segment in Pakistan. Maybe its Unique Selling Proposition(USP) will help in selling it.”
The Deatails and the Launch of Peugeot 2008
The Stonic consists of the Petrol engine in sizes of 1000cc, 1200cc, and 1400cc. With a diesel engine option offered in 1600cc.
Kia Lucky is also launching Peugeot 2008 in addition to the Stonic this year in December. The car is made by the French PSA Group. With a variety of petrol coming in the engine sizes of 1200cc and 1600cc. The diesel variants are in 1400cc and 1600cc.
The expectations and the predictions are that petrol parent of both will launch with mostly lower one for the Stonic and higher for the Peugeot 2008.
Ansari said, “Peugeot is a bit larger than the compact SUV Stonic. But a bit smaller than the Kia Sportage one.”
Ansari thinks that “The Peugeot prices can be between Rs 3.6 million to Rs 4.1 million.”
He added, “The company would definitely not want their cars to be competing against one another, specifically on the price factor.”
The Growth of Auto Industry
According to the reports, the Kia’s most top-selling Car in Pakistan is none other than the 2000cc Sportage. It’s on the top despite serving the high-end segment. The Car is also the first-ever crossover SUV in Pakistan.
But now the segment has seen rapid growth as MG Motors, Regal Automobiles, Sazgar Group, Proton, and Hyundai. They have all launched the crossovers in this particular category.
The experts are positive that the local Auto Industry would reach it’s a high level of growth in future years. The growth will affect the business of secondary industries and also in generating employment.
The government is already setting a production target of 500,00 units by the end of this tenure.