Toyota to Observe Plant Shutdown for 9th Time This Year

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.

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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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