Toyota Indus Motor Company (IMC) has once again halted production due to a shortage of parts and inventory caused by import restrictions.
Halted Production of Toyota
According to reports, the assembly plant will be closed from June 26 to June 27. On Friday, the automaker informed the Pakistan Stock Exchange (PSX) of the development.
Because of the non-issuance of Letters of Credit (LCs) and supply chain hiccups, the automaker and its suppliers continue to face difficulties in importing raw materials and receiving clearance for their shipments.
As a result, the company’s supply chain has been disrupted, with vendors unable to supply the company with basic materials and components.
This is the fifth production closure announcement made by Indus Motor this year. Due to an inventory shortage, the company previously announced a complete plant closure from June 3 to June 8, May 2 to May 3, February 1 to February 14, and then again from March 24 to March 27.
The same issue plagues the local automotive industry, with several automakers reportedly on the verge of bankruptcy.
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