The wait is over and good news for Pakistan’s Auto Market – Kia Lucky Motors has finally decided to accept pre-bookings for its much-awaited Picanto hatchback as per confirmed media reports.
Kia has already introduced Grand Carnival (high-end) and Sportage (in 2 variants). And now Picanto will be the Kia’s third car launch in Pakistan. However, both the above mentioned vehicles attracted the high-end customer base. Though Kia Sportage has received good sales in pre-booking and its a good sign.
Small Cars Segment and Pricing and Specification
Kia Picanto is a 1000cc engine car and will compete against the likes of market giants Suzuki Cultus, Wagon R and Faw V2. It is expected to be launched in the price range of Rs. 1.8 million to Rs. 2.0 million, though no official confirmation has been made regarding pricing.
Due to the increased prices of existing cars in this segment the price-tag of Picanto will determine its success in the local market and customer’s willingness to go for it.
Other Market Players
As we already knows that Suzuki Pakistan dominated Pakistan’s small-car industry from last two decades with very out-dated Mehran, now with new Wagon R, Cultus 2019 and recently launched Alto’s 2019 model. This keeps Suzuki remain ahead in small car segment. Additionally local manufacturers also joined hands with their Chinese counter-parts to bring more options in the market, recent entrants are United Motors with Bravo and Prince Motors with Pearl.
Though Pak Suzuki Motors always known for low quality, minimum or no safety features in a much higher price mainly due to the lack of competition in the Pakistan’s local market. Kia will aim to change that with the launch of Picanto. And new manufacturers have also identified this issue and are working towards bringing more featured options for the people of Pakistan.
The company has decided to join the Pakistan auto-industry after a decade and this time with a long-term investment plan under government’s auto industry policy and having status of green-field investment.