After an improvement in the value of the Pakistani Rupee against the US Dollar, car prices in Pakistan have decreased by hundreds of thousands of Rupees.
Lucky Motor Corporation, a local partner of Kia Motors, a South Korean car manufacturer, has announced a reduction in the prices of various models and variants by one to five lakh Rupees.
The company stated that the price reduction will take effect from October 6, 2023. In a statement issued on Thursday, it was mentioned that the company aims to inform consumers of each step that directly benefits them.
The statement further explained, "In recent days, due to the increasing value of the Pakistani currency against the US Dollar, we have decided to pass on this benefit to consumers." The company stated that as a result, it is reducing the prices of various models of cars.
According to the company, the price of the Picanto has been reduced by one lakh Rupees, bringing its price down to 38 lakh 50 thousand Rupees.