The Biz Update One of Pakistan's Most Reliable Business News Website
Related Articles
KIA Motors Pakistan has announced an Interest-Free and Shariah-Compliant 18-month installment plan on all variants of its popular Sportage SUV, aiming to make the vehicle more accessible amid a competitive auto market.
Under the new Kia Sportage 1 EMI scheme, customers can now book the SUV with a 50% down payment and repay the remaining amount through equal monthly installments without interest. The offer makes the Sportage available with an initial payment as low as PKR 4.45 million.
The company has also unified the price and EMI structure for its flagship SUV, the Sorento, reducing the down payment to as low as PKR 6.825 million. The decision comes as part of Kia’s effort to streamline its financing options and attract a wider customer base.
In a related move, Kia announced the suspension of free registration and the “Power Bonus” of PKR 250,000 on the Sportage 1.6 HEV and Sorento 3.5L V6 variants, effective from October 22. The automaker cited an ongoing evaluation of its promotional programs to ensure “value, flexibility, and more diverse options.”
Industry experts see this as a strategic attempt by Kia to stimulate demand and strengthen its foothold in Pakistan’s slowing automobile market, where rising car prices and financing costs have impacted sales across the sector.
