Kia Lucky Motors to commence production from August
Kia Lucky Motors is considering 10pc Federal Excise Duty imposed recently to be a major hurdle.
ISLAMABAD (Dunya News) – Kia Lucky Motors Pakistan is expected to commence production from August this year but is worried due to imposition of 10 percent Federal Excise Duty (FED) on above 1,700cc vehicles.
The company s representatives met with the Prime Minister s Advisor on Commerce, Textile, Industries and Production and Investment Razzak Dawood and apprised him of their production plans and other issues.
Kia Lucky Motors Pakistan Ltd applied for Greenfield status on March 13, 2017 which was awarded on June 19, 2017. The planned investment in the project is $ 190 million.
Kia Lucky Motors is considering the 10 percent Federal Excise Duty (FED) imposed recently to be a major hurdle in achieving satisfactory sales figures.
The 10% FED was imposed on cars of 1700cc and above and included vehicles like Honda Civic, Toyota Altis Grande and Toyota Fortuner.
The manufacturing facilities of the firm are complete and the firm will start manufacturing by August 2019 of the following models: Kia Sportage, 2000 cc petrol and Kia Picanto, 1200 cc petrol.
The booking of Kia Picanto will start in August, 2019 and delivery will start in October, 2019 whereas Kia Sportage will start booking in June, 2019 and will be delivered in August 2019.
The delivery of Sportage is expected from August while Picanto is expected to be delivered from October. Kia Lucky Motors will start the production of Sportage and Picanto in August to meet the delivery schedules.
