Indus Motor Company (IMC), which assembles Toyota vehicles in Pakistan, has announced that it will halt vehicle production from September 28 to October 9 due to a shortage of auto parts.
They have had to halt production eight times already this year. The government’s regulations that make it difficult to import auto parts from other nations, the difficulty in obtaining Letters of Credit (which are required to make purchases from overseas), the high expenses of borrowing money, and significant price hikes are just a few of the issues the Pakistani auto sector is currently dealing with.
All of this has prevented as many Pakistanis from purchasing automobiles. Pakistan saw a 36% decline in car sales in August compared to the same month last year. The profit after taxes for Indus Motor in 2023 decreased by about 39% from the previous year.
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