Kia Motors, the renowned Korean automaker, has stunned the automotive market with a substantial price reduction of over Rs1.5 million for its popular model, the Kia Stonic. However, this move has prompted a surge in demand, leading to an unexpected halt in bookings.
The local representative of Kia Motors, Lucky Motor Corporation, initially announced the staggering price slash of Rs1.513 million for the Kia Stonic on April 29. This announcement triggered a frenzy among prospective buyers, resulting in a rush to Kia showrooms across the region.
Despite the overwhelming response, Lucky Motors Corporation declared the temporary closure of bookings for the Stonic on the night of May 1. In a statement addressing the situation, the company attributed this decision to the unprecedented volume of bookings, indicating that their delivery commitment for the particular model has been fulfilled until September 2024.
According to the company’s announcement, all bookings for the Stonic scheduled for delivery until September have been finalized. Deliveries are set to commence in May, following the order sequence.
The statement clarified, “All bookings made for deliveries until September will be accepted after a partial payment of Rs2.35 million, and further orders will commence in October, contingent upon market response and the company’s stock position, which will be communicated separately.”
Furthermore, Lucky Motors Corporation assured its valued customers of a ‘price lock’ on orders booked with full or partial payment up to September deliveries. However, the company emphasized that this locked price is subject to potential adjustments due to changes in duties, taxes, or levies imposed by federal or provincial governments.
The statement underscored, “Any change in the duties, taxes, and levies etc., imposed by the Federal/Provincial Governments 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.”
As Kia Motors navigates this surge in demand and subsequent logistical challenges, prospective buyers eagerly await further updates regarding the reopening of bookings and the future availability of the Kia Stonic.
