Toyota Pakistan manufacturer, Indus Motor Company, has made the decision to halt producing cars from August 25 to September 6 of 2023. This is because fewer individuals are purchasing cars due to a lack of available funds.
In a communication to the Pakistan Stock Exchange, they claimed that the years 2022 and 2023 were difficult for the automobile business. Due to a lack of funds, many are not purchasing cars.
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Additionally, the government is raising car taxes, and the overall economy is struggling. Because of this, fewer individuals are wanting to acquire cars.
Between August 25 and September 6, 2023, Indus Motor Company won’t be producing any automobiles due to these issues. There are already too many and not enough cars there.
Previously, other businesses such as Sitara Peroxide and Pak Suzuki Motor Company also discontinued producing cars for various reasons. Sometimes this is due to a lack of demand for automobiles, and other times it is due to a shortage of the components required to build the cars.
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