Toyota is Returning Full Booking Amount with Markup to Delays
The country’s industry is currently experiencing a new lock down while Pakistan’s economy is sinking deep into the murky waters of the worst financial turmoil. Local automakers initially indicated a back-to-back reduction in output, and recently (Toyota) begun repaying booking amounts to the clients despite no production.
To deal with the delayed CKD imports, Toyota Indus Motor Company (IMC) had already announced non-production days (NPDs). According to the most current sources, IMC is allegedly giving consumers who recently booked cars a 100% return with a markup.
According to Toyota IMC CEO Ali Asghar Jamali, production reductions and the weakening economy are delaying the supply of new vehicles. The general state of affairs is seriously harming the sector.
Market reports state that other automakers are raising their prices as a result of the persistent local currency value drop. As long as the economy is unstable, the auto sector will probably continue to be a horror show.
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