Kia Offers Massive Price Reduction on Sorento
Lucky Motor Corporation (LMC), formerly Kia-Lucky is offering a huge discount on the Sorento mid-sized crossover SUV in Pakistan. The limited time offer which comes on back of the New Year celebrations & achieving 50,000 units production milestone which the company accomplished in November 2021, will benefit buyers up to a discount of Rs 704,000.
With this, the Sorento 2.4 AWD is now available for PKR 74.99 lac instead of PKR 78.12 lac while the flagship 2.5L V6 is also available for PKR 74.99 lac instead of PKR 82.03 lac. Which means the prices of both variants will be exactly same for a limited time.
The 3rd generation Kia Sorento was launched in Pakistan back in February 2021 as the most equipped local assembled vehicle having the biggest displacement engine under its hood, the first local assembled car to have a V6 engine as well as the first to have 6 airbags among all locally available vehicles. The vehicle is backed by 4-years/ 100,000 km warranty.
Although the Sorento might be the slowest selling product in LMC’s lineup, however the CEO of company Mr Asif Rizvi is quite satisfied with its performance. In a recent interview to Business Recorders, he said:
“Sales for Sorento cannot be compared to Sportage. The former is a 2.4 or 3.5 liter, 7-seater with 6 airbags—remember, Sorento is a Rs 7-8 million car and that is a small market. There is a Rs 2.5-3 million gap between the two vehicles. The Rs 7-8 million car segment is going to be smaller and that was always the expectation. The market shrinks as you go up the price ladder, and this applies to vehicles of all assemblers, not just us. The cost of ownership increases, not only because of the higher price tag but also because of higher taxes and registration fees. But I will say, that we are having expected sales for Sorento in its segment too. Sorento is on a passenger vehicle platform and distinguishes itself from a truck SUV and those who own a Sorento realize the comfort of this.”
Some also say that the discount move is part of company’s efforts to clear out the inventory for making way for the latest 4th generation Sorento which was globally unveiled in 2020 and went into production in key markets in 2021. However we will have to wait to see if that’s going to be the case.