KIA Launches New Models in Next 12 Months
KIA Lucky Motors is going to launch few new models of their vehicle in Pakistan during next 12 months and it is expected that these new models of the vehicles will be launched in the market by early 2021. KIA Launches New Models in Next 12 Months.
The company has taken this strategic move and this company is going to launch 2 to 4 new models before the expiry of Automotive Policy 2016-2021 to avail the benefits of tariff. The automaker has re-entered the market after formation of aforementioned policy and it can import assembly machinery duty free with the 10% custom duty, which is applied on the non-localized parts and 25% on the localized parts during the period from 2016 to 2021. The new automakers can get the edge over the existing ones and they are charged 32.5% customs duty on the non localized parts and 50% on the localized parts.
KIA has Picanto hitchback and the Sportage SUV and Grand Carnival MPV in the Pakistani market. KIA fits nicely right between Toyota Fortuner and Honda BR-V as the decent crossover SUV, which is good value for it.
The vehicles, Picanto and Sportage variants of the company got the impressive response with monthly bookings clocking in 1500-2000 units and the next launch would be in Sedan category as company has launched the hatchback already and the models like SUV. KIA Lucky is planning to make big advancement in the market with the lineup and this big upside for the market and it offers the existing automakers to stay relevant in few new competitions.
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