Toyota Plant in Pakistan to Close for a Month

Jawad

16 Oct 2023

367

Toyota Plant in Pakistan to Close for a Month

Indus Motor Company (IMC), the manufacturer of Toyota vehicles in Pakistan, has just unveiled yet another Non-Production Days (NPD) plan. This new NPD schedule, which marks the 9th occurrence this year, stands out as one of the longest shutdowns, driven by inventory shortages. According to a notification submitted to the Pakistan Stock Exchange (PSX), the Toyota plant in Pakistan will temporarily cease production for a full month, spanning from October 17 to November 17, 2023.

The local automotive industry heavily relies on imports, and the government's previous limitations on importing Completely Knocked Down (CKD) parts, along with strict conditions for Letters of Credit (LCs), had adverse effects. While there have been some relaxations in import restrictions lately, the recurring NPD schedules issued by local assemblers signify a concerning challenge they face – a shortage of inventory and virtually no sales.

Toyota has already experienced a 45% decline in sales during the first quarter of fiscal year 2023-24 when compared to the already modest figures of the same period in the previous fiscal year. With IMC's latest and notably prolonged NPD schedule, the sales numbers are likely to drop even further.

IMC Toyota Pakistan NonProduction Days NPD Schedule Inventory Shortages Automotive Industry Sales Decline Plant Shutdown Import Restrictions Fiscal Year 202324

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