KARACHI: Indus Motor Company (IMC), the creator of Toyota transportations, has resolved to shut down all production for the upcoming days of September, taking the total quantity of “non-production days” (NPDs) to fifteen in the month owing to the continuing reduction in demand.
As per a private news porta, an Indus Motor Company (IMC) official, who requested not to be identified, told the organisation had already witnessed eight “non-production days” (NPDs) in July and 11-12 “non-production days” (NPD) in August.
He stated the federal excise duty (FED) of 2.5-7.5 per cent on several engine potential cars, skyrocketing rates owing to rupee-dollar congruity along with supplementary customs duty on shipped parts and raw corporeality and high-interest rates had rated most of their vehicles out of the market. For September, “half of the current month is off,” the official told.
As per some sources, the Indus Motor Company (IMC) plant and nationwide dealership network have accumulated up the unsold catalogue of more than 3,000 vehicles. The factory is operating at 50pc capacity in the month of September.
In the meantime, a Toyota vendor confirmed to a private news channel that Indus Motor Company (IMC) production would continue to halt from September 20-30.
Moreover, Toyota Corolla generation and sales plummeted to 5,308 units and 3,708 units particularly in July to August from 8,804 and 8,770 units in the same period last financial year, depicting a fall of 40 and 57pc sequentially.
Toyota Hilux production and sales jumped to 793units and 716 units from 1,383 and units 1,292 units, a decrease of 42pc and 44pc respectively. Further, generation and sales of Toyota Fortuner came down to 232 units and 162 units from 484 units and 424 units, a decrease of 52pc and 62pc respectively.
The automotive industry in Pakistan is on the brink of destruction. Mainly due to current fiscal policies of the PTI government.
Earlier, Pakistan Suzuki motors shut down the production of Swift DLX in all colours; permanently shutting down Mega carry in all colours, Suzuki Vitara temporarily shut down. Besides, the company also shut down the production of Alto VX in all colours and Suzuki Wagon r in red, blue and black colours, respectively.
People on various social media platforms are criticising the ongoing government after the halt in production of Indus motors.
PTI Hatao Pakistan Bachao!
Mercedes, BMW in talks to open assembling plants in Bangladesh and Indus Motor Company (IMC), the maker of Toyota vehicles, has decided to shut down all production for the remaining days of September in Pakistan.
PTI HATAO, PAKISTAN BACHAO
— -M (@LucidViews__) September 20, 2019
Indus Motors (manufacturers of Toyota in Pakistan) announces closure of its plant.
— Rashid Sheikh (@RashidJSh) September 20, 2019
The guy is defending PTI, however which seems a fail attempt!
For 10 days of September ONLY!
‘Toyota Corolla production and sales dropped in same period last fiscal year’ as well.
But the what’s app Journo @_Mansoor_Ali will create “sensation” in tweet because his only aim is to Defame Pakistan. https://t.co/xfDH14QQ2J
— Mukhtar Ahmad (@MukhtarAhmadPTI) September 20, 2019
Haha! Isn’t is Hillarious?
Don’t worry, After the Closure of Indus Motor Plant National Vehicle is waiting for You. 😄 pic.twitter.com/0yI6PiyY8c
— Maryam Yousafzai (@Maryam_ysfzai) September 20, 2019
In July 2019, Honda halted its production in Pakistan. The economic conditions of Pakistan are getting worse day by day largely owing to parity between rupee and dollar. Besides, governments failure to collect taxes and huge taxes on imports have pushed companies on the verges of catastrophe in Pakistan.