Kia raises prices across the range as raw material costs bite

Tom Barnard

1.7.2022

Kia has introduced a price increase for many of its electric models from July 1st, including a £1,250 hike on the new Niro Electric before the first customers have received their cars. 

Any orders placed before July 1st will have the old price honoured, however. 

After the increase, the cheapest Niro Electric ‘2’ rises from £34,995 to £36,245 while the range-topping ‘4’ model rises to £41,745 from £41,495. The most expensive ‘4’ is now £43,390. 

EV6 and Soul EV prices remain unchanged, with the Soul starting at £34,995 – although only stock cars remain currently. A new 2023 model year car will be announced shortly. 

However, the EV6 had a £750 increase in April and has leapt up in price since it was first launched in October 2021 – the original £40,945 entry model is now £44,195. 

A Kia spokesman explained the increases: “Against the backdrop of a global supply chain shortage, the automotive industry remains under pressure to build and supply products at the same rate as customer demand. The military situation in Eastern Europe has compounded these issues further. 

“One direct impact is the restricted supply and inflated cost of raw materials required to produce batteries and other components for electric and plug-in hybrid vehicles. This is a wide spanning problem and Kia is not immune to these issues, therefore is having to take appropriate action to maintain the best possible flow of supply. 

“Kia offers three fully electric vehicles – the EV6, Niro EV, and Soul EV – alongside PHEV powertrain options for multiple other models. With such a comprehensive range of plug-in electrified vehicles, these supply and increased cost implications have a heightened affect. Like many other companies and industries, Kia has had to adjust pricing in direct response to these complex and unprecedented challenges. It is important to note that existing customer orders will not be affected.” 

Kia is just one of the companies which has implemented increases this week, with both MG and Nissan also announcing price hikes.

Soul EV prices are unchanged until the new 2023 model (above) arrives

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