Automakers raise car, bike prices
Amid anticipated stability in the rupee-dollar parity after a staff-level agreement with the IMF, the country’s auto assemblers and a leading tetra milk producer on Wednesday shocked consumers with massive price hikes. Lucky Motor Corporation Ltd (LMCL) on Wednesday raised the price of Picanto Automatic Transmission by Rs200,000 to Rs3.825 million from Rs3.625m while keeping Picanto (manual) unchanged at Rs3.350m. Similarly, the Stonic EX price held unchanged at Rs5.350m while the Stonic EX plus model price had been raised to Rs 6.050m from Rs5.930m. The price of Sportage Alpha, FWD, AWD and Black Edition had been jacked up to Rs7.300m, Rs8.190m, Rs8.820m and Rs9.300m from Rs7.050m, Rs7.940m, Rs8.570m and Rs9.050m. Sorento 2.4L FWD and 2.4L AWD prices had been enhanced to Rs10.800m and Rs11.790m from Rs10.400m and Rs11.300m. The company did not make any change in the price of Carnival at Rs16.750m. Just a few days ahead of Eidul Azha, dealers of Kia vehicles had informed customers regarding ready delivery with price lock on full payment in all the vehicles. LMCL did not mention any reason for the price hike in its circular issued to its authorized dealers.