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Friday, November 15, 2024

Home Business KIA increases car prices

KIA increases car prices

by News desk
March 13, 2023
in Business

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Lucky Motor Corporation (LMC) has jacked up KIA car prices following a recent increase in sales tax rate from 17% to 18%.

New prices will be effective from February 14, 2023, according to a notification issued by the company on February 21. KIA cars, except for KIA Carnival, will now be available for booking at full payment only.

LMC’s announcement indicates that the auto industry has been impacted by the restrictions on letters of credit (LCs) that caused a shortage of completely knocked down (CKD) parts and the rise in sales tax rate.