According to a report by leading brokerage house of Pakistan, Topline Securities, its research team visited assembly plant of Lucky Motors Corporation to witness an exercise that showcased an exclusive look of the upcoming model launch of the company.
Earlier in its report the brokerage house on 27th July 2020, in a detailed note on Lucky Cement (LUCK) titled as “LUCK: Cement operations upbeat, KIA surpassing expectations, ICI pose vaccine upside” it had highlighted potential launch of 2-4 models before Jun 2021 to avail reduced tariff structure under Auto Policy 2016-21.
The Company plans to launch a mid-sized SUV model “Sorento” in 3 variants. Market rumors suggest price brackets of the car would be between Rs7.0 million to Rs9.0 million. However, exact prices will be made available very shortly. Booking for the variants will start on Friday, 19th February 2021.
As per management, 3.5L engine size car will be the largest SUV that will be assembled in Pakistan.
Other than Sorento, two more models will be launched by Jun 2021.
The brokerage house believes, Sorento will give tough competition to Indus Motor’s Fortuner as the latter’s basic variant costs Rs7.7 million. Sorento’s all variants will have panoramic roof along with six advance airbags.