Tag: manufacturer

  • Kia increases car prices by up to Rs1.3 million ‘due to significant devaluation of Pakistani rupee’

    Kia increases car prices by up to Rs1.3 million ‘due to significant devaluation of Pakistani rupee’

    As the value of the Pakistani rupee (PKR) against the US dollar falls to an all-time low, Kia Lucky Motors Corporation (KLMC) has announced a significant hike in their car prices in Pakistan.

    Details indicate that, depending on the model, the manufacturer has increased the price of the Kia Picanto, Kia Sportage, Kia Stonic, Kia Sorento, and Kia Carnival in Pakistan by up to Rs1.3 million.

    “Due to the significant and unprecedented devaluation of PKR to USD during the last couple of days, it has become inevitable for LMC to increase the current ex-factory prices of all its vehicles,” the company announced in its notification to dealers.

    The new rates will go into effect on January 31, 2023.

    “While the impact of the devaluation of PKR to USD has been immense, LMC, being a customer-centric organization, has decided not to pass the full impact thereof to its valued customers,” it said, adding that only a partial impact is being passed on to the customer and the rest has been absorbed by LMC.

    It is important to note that on January 30, 2023, the interbank market closed with the Pakistan rupee at an all-time record low of Rs269.63 versus the US dollar.

    The price of the Kia Picanto in Pakistan has been increased by a massive Rs100,000 for both variants, bringing the new price of the M/T variant to Rs3,200,000 and the A/T variant to Rs3,400,000, compared to the old prices of Rs3,100,000 and Rs3,400,000, respectively.

    Here are the new prices for all Kia cars:

  • Pakistani assembled Chery Tiggo SUVs to be delivered in June 2022

    Ghandhara Nissan Limited (GNL) has officially opened bookings for Chery Tiggo 4 Pro and Chery Tiggo 8 Pro, introduced with an ex-factory price of Rs 4.6 million and Rs 6.6 million respectively.

    The booking price of Tiggo 8 Pro is Rs 1.5 million and that of Tiggo 4 Pro is Rs 1 million and the expected delivery time for both models is June 2022. 

    The company partnered with Chinese Chery Automobile Co Ltd. for local assembly and distribution of the Tiggo SUV series in 2021. Chery Tiggo will now be the 12th locally assembled SUV in Pakistan.

    GNL said it had started assembling the SUVs and would be delivering the first batch of the vehicles in April at its authorized dealerships. Chery Tiggo 4 is a 1.5L Turbo five-seater vehicle, while Tiggo 8 Pro is a 1.6L Turbo seven-seater SUV.

    Considering the Auto Development Policy (ADP) 2016-21, Toyota Fortuner was the only locally assembled SUV in Pakistan.

    However, nearly a dozen SUVs were introduced after the auto industry was encouraged by the government and new entrants started stepping into the local auto market of Pakistan.

    Tiggo 8 Pro will compete against 7-seater vehicles in the local market, including the most popular Toyota Fortuner, and the offerings from new entrants: Changan Oshan X7 Comfort, DFSK Glory 580 Pro, as well as Kia Sorento. While the Tiggo 4 Pro will be a direct rival to 5-seater crossovers like KIA Stonic, MG ZS, and the newly introduced Peugeot 2008. 

  • Hong Kong-based smartphone company becomes first to start manufacturing in Pakistan

    A Hong Kong-based smartphone manufacturer, Infinix, has become the first smartphone company to start manufacturing in Pakistan. Prior to this, only a certain amount of mobile phones were being assembled within the country, including Xiaomi Mi phones.

    “Fully aligning with the country’s initiative of ‘Make in Pakistan’, the company keeps growing its investment to contribute and help transform Pakistan into a regional tech hub. This is just one step further towards our mission and commitment to putting Pakistan on the road to progress and prosperity,” Infinix Pakistan said in a statement on Friday.

    Located in Pakistan, the Chinese smartphone brand’s manufacturing facility helps prevent the unnecessary worry of coronavirus and the inaccessibility of the newest Infinix products. With the launch of the facility, the company also fulfils its aim of playing its role in empowering the local labour, particularly women, as 60pc of the workforce working in the Infinix Pakistan factory comprised of women.

    The manufacturing vicinity was also visited by Chinese Consul General Li Bijian, who applauded Infinix’s contribution in promoting local employment in the country.

    Talking about their company mission, Infinix Pakistan CEO Joe Hu said, “Infinix’s vision as a company is to enrich our customers’ experiences, whether it is through our products, or what goes in their manufacturing. To be able to play a small part in the empowerment of the labour force in Pakistan, particularly women, is an important step further towards our mission.”

    Infinix’s products in Pakistan are priced from approximately Rs11,000 to Rs40,000.

    The development comes as the government finalises the Mobile Device Manufacturing Policy with the theme ‘Make in Pakistan’ under which regulatory duty (RD) on the local assembly of smartphones (Android) will be reduced from the existing five per cent to zero.

    Within the next two to three years’ time, 40 per cent localisation in manufacturing will be attained, meaning that the charger manufacturing, casing of the phones and its packing would be done locally and with the passage of time 100 per cent manufacturing of android mobile phones will be done.

    Local device manufacturing activity is projected to create 200,000 direct and indirect jobs in the country alongside the development of an efficient manufacturing ecosystem and linking Pakistan to the global supply chain.