KIA Motors in Pakistan has hiked the prices of almost all of their vehicles by up to Rs475,000 with effect from March 1, reported 24NewsHD TV channel on Wednesday.

The Kia Stonic EX+, a subcompact SUV, is at the top of the list, with the greatest price increase of Rs475,000, taking its price from Rs3,975,000 to Rs4,450,000. With the exception of the Sorento and Carnival, KIA Motors has increased the prices of all its vehicles. 

KIA Motors in a press release said that depreciation of the Pakistani rupee (PKR) and an increase in freight expenses were the reasons behind the latest surge in prices.

The new price of Picanto (MT variant) now stood at Rs2,400,000 after an increase of Rs214,000 while Picanto (AT variant) revised price reached Rs2,500,000 after an increase of Rs208,000.

KIA Sportage (FWD) price reached Rs5,500,000 after an increase of Rs224,000 while Sportage (AWD) vehicle rate reached Rs6,000,000 with an increase of Rs212,000.

KIA Motors set Stonic (EX) price at Rs4150,000 after an increase of Rs400,000 while Stonic (EX+) price reached Rs4,450,000 after an increase of Rs475,000.

Reporter Saeed Ahmed Saeed