Indus Motor Company (IMC), the assemblers of Toyota cars in Pakistan has announced yet another NPD (non-production days) schedule. In a notification sent to the Pakistan Stock Exchange (PSX), the company stated the inventory shortage as the reason for the assembly plant shutdown, which is scheduled from August 25 to September 6, 2023.
The latest NPD schedule, the 7th announced by the company this year, also mentions decreased demand as a contributing factor behind diminishing sales, amid the depleting purchasing power of the masses. In July 2023, IMC was able to sell just 1,368 units registering a 26% month-on-month decline. Bear in mind during its prime, the Toyota Corolla sedan alone used to sell at around 4,500 units a month.
Although industry analysts believe the (local) auto industry should focus on developing some sort of export business for long-term sustainability, the current scenario doesn’t really paint a doable picture for the local assemblers. Particularly in light of the fact that (in the case of IMC) both the Corolla and the Yaris, its two most popular passenger car models, are globally obsolete and cannot be exported to any region of the world, nor can their parts or components.
Other players experience the same thing because export has never been a top priority. It will be interesting to see what the local assemblers have planned as a response to the sales slump.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
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