Indus Motor Company Limited (PSX: INDU) announced on Wednesday that its production factory will be shuttered from March 6 to March 11, 2024.
“Based on the current low level of inventory of manufactured vehicles, and shortage of parts and components for manufacturing of vehicles.
Due to supply chain challenges, the Company has decided to close its production plant from 6th March 2024 to 11th March 2024 (both days inclusive,” the stock filing stated.
“In case of any change in plan will be updated accordingly,” the statement said.
This is Indus Motor’s first indication that production will end this year, in 2024.
INDU is the sole distributor of Toyota and Daihatsu automobiles in Pakistan, with a licence for assembling, progressive manufacturing, and marketing these vehicles in Pakistan.
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