KARACHI: Kia Lucky Motors (KLM), which is manufacturing and selling Korean Kia brand of cars in Pakistan, is set to launch a new locally assembled SUV, Stonic, next week, it said on Friday.
KLM is a subsidiary of Lucky Cement.
“We can’t share all information but I can tell you that we are very close to launch,” said KLM CEO Asif Rizvi while talking to The News. “And I can tell you that Stonic’s … local assembling has already begun,” Rizvi added.
Sources in the company have confirmed the launch has been scheduled for the next week.
Stonic is a smaller crossover SUV than Kia Sportage, which has been comparatively successful. KLM has also been manufacturing hatchback Picanto, midsized SUV Sorento, and an MUV 11-seater Carnivale.
The company did not disclose any details about the launch as a part of their marketing strategy.
Market buzz suggests the company may try to price it somewhere between Rs2.8 million to Rs3.5 million.
Usman Ansari, an auto sector expert, said the company might place in a price range that could make it competitive against sedans such as Honda City and Toyota Yaris.
“Stonic is a small car – not very big from hatchbacks. It can be compared with Nissan Juke. So, it may not have a direct competition,” Ansari added.
He said at the moment this segment seemed unique in local auto market and might help the company sell it well in Pakistan.
The crossover car comes in petrol engine sizes of 1000cc, 1200cc, and 1400cc and a diesel engine option has been offered in the 1600cc category. However, the market is expecting the company might bring lower engine size petrol-engine variants.
A company source also confirmed that KLM would also launch French PSA Group’s crossover SUV Peugeot 2008 next month.
It is slightly bigger than Stonic but smaller than Sportage and comes in 1200cc and 1600cc petrol engines and 1400cc and 1600cc diesel variants.