In a rather surprising move, Lucky Motor Corporation (LMC) has massively slashed the price of Kia Stonic in Pakistan. According to the latest company notification, the price of Kia Stonic EX+ has been reduced by Rs 15.13 lac.
After the price reduction, the Kia Stonic is available for PKR 47.67 lac instead of its old price of PKR 62.80 lac. The revised price is effective from 29th April 2024.
Stonic, the only model in Kia’s local lineup that is not globally obsolete, has never been able to reach even the third gear in terms of sales due to its exorbitant pricing and marketing tactics that portrayed it as a C-segment product rather than its original B-segment. Since its launch in late 2021, you may have noticed that our leading auto portals have done their best to present the Stonic as a C-segment rival to the Toyota Corolla and Honda Civic, although it is only classified as a B-segment crossover elsewhere. The increasingly informed auto buyers simply refused to accept the B-segment product as a viable alternative to C-segment sedans merely because they were forced to read about it online. Consequently, the marketing exercise backfired.
Related: The Only Kia in Pakistan That’s NOT a Globally Obsolete Model
Despite being marketed as an “SUV for the city”, the Stonic being effectively a crossover version of the Kia Rio, it is just as roomy as a hatchback. Plus, its price is the biggest hindrance because there are much better choices that are not only bigger but also have extensive inside space compared to the Stonic. The company was forced to discontinue the base EX version due to stagnant demand as currently only the EX+ is on the menu.
The best it could achieve was a monthly sales average of around 400 units in its initial period of availability which itself is poor by any standards. But later on, sales further slipped down and never recovered. In 2023, Kia was unable to push out even a thousand units of Stonic as its tally for the entire calendar year stood at only 816 units, resulting in a dismal sales average of 68 units a month. This was 52% less than the 1,701 units sold a year earlier in 2022.
Related: 6 Years of Kia in Pakistan and Nothing but Obsolete Cars
The Stonic is already nearing the end of its lifespan in overseas markets, but that won’t make any difference as sparing Stonic, the entire Kia lineup in Pakistan consists of globally retired cars. But it will sure be interesting to see how much success LMC will see after this massive price reduction, which for the first time has brought it in the league of its true B-segment rivals.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
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