Toyota to Shutdown Assembly Plant for 12 Days

Indus Motor Company (IMC) has once again announced a shutdown schedule of its assembly plant in Pakistan. In a recent notification sent to the Pakistan Stock Exchange (PSX), the assemblers of Toyota cars in the country informed that the plant will remain closed from 28th September to 9th October 2023 (both days inclusive).

The latest 12-day NPD (non-production days) schedule is overall the 8th NPD schedule announced by the company since the beginning of this year. According to IMC, the decision has been taken “based on the current level of inventory of manufactured vehicles” which suggests nothing but sluggish sales.

Earlier the company has been observing NPDs primarily due to a lack of inventory in hand due to import restrictions and difficulties in obtaining LCs (Letters of Credit). However now that the restrictions are eased, the local assemblers including IMC are battling with a massive decline in sales due to sky-high prices and onerous auto financing conditions that have badly dented the sales of locally assembled vehicles.