Kia Motors, the Korean automaker, has halted bookings for one of its cars after announcing a price reduction of over Rs1.5 million.
The local representative of Kia Motors, Lucky Motor Corporation, had suddenly announced a price reduction of Rs1.513 million for the Kia Stonic on April 29, which led to a rush of customers to showrooms.
However, on the night of May 1, Lucky Motors Corporation announced that bookings for the Stonic have been temporarily closed.
In a statement, the company mentioned that due to the high volume of bookings, the company has reached its delivery commitment for the particular car model until September 2024.
According to the announcement, bookings for the Stonic have been completed until September, and deliveries will begin in May based on the order sequence.
The statement stated, “All bookings made for deliveries until September will be accepted after a partial payment of Rs2.35 million and further orders will start in October, depending on the market response and the company’s stock position, which will be communicated separately.”
“For the benefit of our valued customers, we would like to emphasize that we will be giving ‘price lock’ on orders booked on full / partial payment up to September deliveries,” the statement said.
However, Kia added that the price, even though locked, will be ‘subject to the understanding that any change in the duties, taxes and levies etc., imposed by the Federal / Provincial Governments (the Government) or any additional duties, taxes and levies etc., to be imposed by the Government and applicable at the time of the delivery of the vehicle will be borne by the customer and recoverable from the customer by LMC before the delivery of the vehicle.’
