Due to the ongoing economic crisis, Pakistan’s automobile industry is struggling just like all other sectors of the economy. The most recent development was the 14-day suspension of vehicle manufacturing by Toyota Indus Motor Company (IMC).
Non-production days (NPDs) will be observed by the corporation from February 1 through February 14, 2023. Due to limited stock, the corporation will also switch to single-shift production as of February 15, 2023.
Previously, Toyota IMC halted its operation back in 2022 from December 20th to December 30th due to same raw materials shortage issue.
Toyota IMC announcement
According to a formal announcement by Toyota IMC, “The company and its vendors continue to face major hurdles in import of raw materials and receiving clearance of their consignments from commercial banks. This has disrupted the entire supply chain and the vendors are unable to supply raw materials and components to the company. Accordingly, the company has insufficient inventory levels, therefore, the company is unable to continue its production activities.”
Toyota already raised the cost of its vehicles twice in a single month. The future of the auto sector is uncertain as a result of the current economic downturn.
To read our blog on “Toyota production will be halted for 11 days by Indus Motors,” click here.
