Yesterday, the federal government added a 25% General Sales Tax (GST) to expensive goods. Today, the Federal Board of Revenue (FBR) confirmed this new tax by issuing a new sales tax notification under SRO 297(1)/2023. But this tax application also applies to some vehicles that weren’t 1400cc cars. The important thing to notice was that all locally produced or assembled SUVs and CUVs, even those with engine displacement lower than 1400cc, were included in this tax slab, which is why we were anticipating a new price increase. And given the recent increases in Kia car prices, ss predicted it would occur today.
The ex-factory prices starting on March 8, 2023 have changed as a result of the increase in the sales tax rate from 18% to 25%, according to a notification from Kia Lucky Motors.
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.