Proton Refunds Booking Payments to Clients

11 Feb 2023

510 Proton

Proton Refunds Booking Payments to Clients

Proton Pakistan has followed Toyota's lead and begun to reimburse booking payments. The company has released a reimbursement schedule and expressed gratitude towards its consumers for their understanding and support. The company received a large number of refund requests due to delivery delays and price changes resulting from increased freight rates and fluctuations in the USD vs PKR exchange rate. Customers can get the latest updates of their Proton Refunds Booking Payments to Clients.

While the company has made an effort to refund as many payments as possible, it will now adopt a "first-in-first-out" method for future cancellations. Proton Pakistan stated that it will now follow the refund schedule outlined in its notification.

Refunds by Toyota

Toyota recently announced that it would offer customers a full refund, including the markup, for booking amounts due to limited production in February and March. The CEO of Indus Motor Company (IMC) stated that the recent import restrictions have had a devastating impact on the local car industry and immediate action must be taken by the government to restore political stability and the weakening economy.

IMC is currently operating at only 40-45% capacity and unless the restrictions are lifted, full plant closures and a halt in production will become unavoidable. The CEO also noted that the ongoing depreciation of the rupee will increase the cost of production, further limiting the manufacturer's financial performance in the coming quarters due to reduced demand and supply, low volumes, and margins.

This is not the first time that IMC has announced a full refund. Previously, the company reimbursed booking payments with interest due to delays and uncertain delivery dates. The recent actions by Toyota and Proton Pakistan raise questions about the future of the local car industry and the measures that manufacturers may need to take in order to remain competitive.

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