The federal government yesterday imposed the 25% General Sales Tax (GST) on luxury items. The Federal Board of Revenue (FBR) issued a new sales tax notification under SRO 297(1)/2023 confirming this new tax today. But, some vehicles that were not 1400cc cars are also facing this tax application. This tax slab included all locally assembled 1400cc and above cars, but the important thing to notice was that the locally manufactured or assembled SUVs and CUVs, even the ones with engine displacement lower than 1400cc were included and that is why we were expecting a new price hike. And ss expected it happened today as Kia car prices have been increased.
In a notification, Kia Lucky Motors said that due to increase in the Sales Tax rate from 18% to 25%, the ex-factory prices effective from March 8, 2023 have been revised.
New Kia Car Prices
The car assembler has increased the prices of its SUVs and CUVs, i.e., Stonic, Sportage and Sorento. Here are the revised prices of the vehicles.
Stonic New Price
- Kia Stonic EX now costs Rs. 5,200,000 instead of Rs. 4,900,000 as the price has been increased by Rs. 300,000.
- Whereas, Kia Stonic EX+ has a new price of Rs. 5,730,000 as compared to the old price of Rs. 5,400,000. The company jacked its price by Rs. 330,000.
Revised Price of Sportage
Sportage Alpha was priced at Rs.6,650,000 a couple of weeks ago, but after seeing an increase of Rs. 400,000 now it costs Rs. 7,050,000.
The price of Sportage FWD was raised by Rs. 440,000 , but now it costs Rs. 7,790,000 compared to old rate of Rs. 7,350,000.
Similarly, the price of Sportage AWD was increased to Rs. 7,900,000., but today, it has been further raised to Rs. 8,370,000 after observing a jump of Rs. 470,000.
Sorento Updated Price
- Sorento 2.4L FWD used to cost Rs. 9,000,000 but now costs Rs. 9,540,000 as its price is increased by Rs. 540,000.
- Similarly, Sorento 2.4L AWD had a price of Rs.9,800,000 a few days ago. Now it costs Rs. 10,390,000. This is a difference of a whopping Rs. 590,000.
- Lastly, Sorento 3.5L FWD is now priced at Rs. 10,390,000 instead of Rs. 9,800,000 like Sorento 2.4L AWD. It also seen a jump of Rs. 590,000.
