Kia to Launch 4 New Models by 2021

Kia to Launch 4 New Models by 2021 1

Kia-Lucky is planning to launch up to 4 new models in Pakistan by 2021. According to the latest report:

“Kia is looking to launch 2-4 new models before the expiry of Automotive Policy 2016-2021 to avail tariff benefits.”

Under the Greenfield incentives, the company is entitled to import duty-free plant and machinery with 10% customs duty on non-localized parts for 5 years under the policy, as opposed to 32.5% for existing players, and 25% customs duty on localized parts, compared to 50% for existing players.

Related: Kia Cerato in Pakistan- Things You Need to Know

One among the new models is going to be the Cerato sedan which is expected to be introduced towards the end of this year. The company already has Grand Carnival luxury MPV, Frontier commercial pickup as well as local assembled offerings including Sportage SUV and Picanto hatchback in its product portfolio.

Kia to Launch 4 New Models by 2021 2
Kia Sportage & Kia Picanto

Kia-Lucky is estimated to witness a handsome 50% surge in sales to 27,000 units in the next fiscal year and a 7% increase in fiscal 2022/23, given aggressive launch plans of the company. According to analysts, balance sheet position of the company is also very strong as advance booking price of Sportage generates healthy customer cash advances. The company has currently received temporary subsidized relief financing from the central bank to the tune of Rs 2 billion while working capital requirement is likely to increase to cater to high sales.

Related: Sportage Alpha- A Calculated Move by KIA

The company enjoys tax holiday for 10 years due to its presence in Bin Qasim Industrial Park. Due to high demand, all three variants of Sportage (All Wheel Drive, Front Wheel Drive and Alpha) have delivery time of 1-3 months. AWD variant has the longest delivery time of 3 months whereas Premium on these variants range between Rs 400,000 to 600,000. The reason for success of Sportage is attributed to its pricing which is 37% lower than the available substitutes in the market.

Kia to Launch 4 New Models by 2021 3
Local assembled Kia Sportage

Related: 2021 Will See Many New Sedans in Pakistan

At this stage it’s not clear which new models the company will bring in, however considering their aggressive strategies one can expect to launch competitive models rivaling existing options in the market as well as to tap new segments. Stay tuned to CarSpiritPK for more information on new Kia cars in Pakistan.

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About UsmanAnsari

A 3d animation professional with over 19 years of industry experience, an avid car enthusiast, petrolhead and social media influencer. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com

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Waqas
Waqas
2 months ago

I hope they will bring the Telluride Worldwide car of the years 2020.
With affordable price it will change the game with the expensive Toyota Land Cruiser V8.

sal
sal
1 month ago

Kia Seltos would be a good one, placed below Sportage, Pakistanis are loving the Kia brand!

asghar ali
asghar ali
29 days ago

Sir the possibility coming suv kia Sorento 2021 4th generation in lunch Pakistan