Lucky Motors (KIA) to launch a mid-sized SUV ‘Sorento’ in Pakistan
Market rumors suggest price brackets of Sorento SUV would be between Rs 7.0-9.0 million. However, exact prices will be made available on Wednesday
KARACHI: The Lucky Motor Company (KIA) has finally decided to launch a mid-sized SUV model “Sorento” in 3 variants (2.4-3.5L) in Pakistan.
Lucky Motors Corporation to witness most buzzed KIAPOWERPLAY exercise which showcased an exclusive look of the upcoming model launch of the company in Pakistan, the source said.
Market rumors suggest price brackets of the car would be between Rs 7.0-9.0 million. However, exact prices will be made available on Wednesday.
Booking for the variants will start on Friday, the sources said. As per management, 3.5L engine size car will be the largest SUV that will be assembled in Pakistan. Other than Sorento, two more models will be launched by Jun 2021, he added.
The analyst at Topline Securities believes, Sorento will give tough competition to Indus Motor’s Fortuner as the latter’s basic variant costs Rs 7.7 million. Sorento’s all variants will have panoramic roof along with six advance airbags.
Kia has been assembling cars in Pakistan under green-field status, which it received following the government’s Auto Development Policy (ADP 2016-21). The government launched the policy to attract foreign investment and help increase competition in the auto sector, which was dominated by three Japanese companies for a long time.
The ADP 2016-21 policy ends in June 2021 and the models introduced by new companies, known as new entrants in the industry, will be considered for duty relaxations.
According to a source, all new companies will try to launch as many models as they can before the ADP 2016-21 policy ends.
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