Indus Motor Company (IMC) the assemblers of Toyota cars in Pakistan has announced another NPD (Non-production days) schedule.
Citing inventory shortages, the latest NPD schedule, which is the 9th since the beginning of this year alone, is almost probably the longest to witness a plant shutdown. According to the notification sent to the Pakistan Stock Exchange (PSX), the Toyota plant in Pakistan will be shut down for a period of one month, that is from 17th October to 17th November 2023.
The local auto industry is heavily dependent on imports, thus the government’s decision to limit imports of CKD parts and the stringent conditions in issuing of LCs has had a negative impact. However, now that import restrictions have been eased somewhat, the persistent NPD schedules issued by local assemblers point to a very concerning position at their end, which is a scarcity of inventory as well as virtually no sales.
Related: Car Sales Review: Q1-FY23-24
Toyota has already suffered from a 45% decline in Q1, FY23-24 sales compared to the already lower numbers of the same quarter of the preceding fiscal year. The latest & much prolonged NPD schedule by IMC will probably see the sales numbers going down even further.
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