Indus Motor Company (IMC), Pakistan’s Toyota vehicle manufacturer, has just announced yet another Non-Production Days (NPD) plan.
New NPD Schedule
This new NPD schedule, the 9th this year, stands out as one of the longest shutdowns due to inventory shortages.
According to a notification filed with the Pakistan Stock Exchange (PSX), the Toyota plant in Pakistan will temporarily halt production from October 17 to November 17, 2023.
The local automotive industry is heavily reliant on imports, and the government’s previous restrictions on importing Completely Knocked Down (CKD) parts, as well as strict Letters of Credit (LCs), had a negative impact. While import restrictions have recently been relaxed, the recurring NPD schedules issued by local assemblers indicate a concerning challenge they face – a shortage of inventory and virtually no sales.
Toyota has already seen a 45% drop in sales during the first quarter of fiscal year 2023-24, compared to the already low figures for the same period the previous fiscal year. With IMC’s most recent and noticeably extended NPD schedule, sales are likely to fall even further.
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