Business Desk 
Jul 12, 2024
The Indus Motor Company (IMC) Limited, assembler and seller of Toyota vehicles in Pakistan, will temporarily shut down its plant, from July 15 to July 22, on grounds of inventory shortage, the company said in a statement.
In a notice filed to the Pakistan Stock Exchange (PSX) on Friday, the company highlighted that supply chain challenges have adversely affected the production, leading to a temporary halt in the company’s operations.
“Based on current low level of inventory of manufactured vehicles and shortage of parts and components for manufacturing of vehicles, due to supply chain challenges, the company has decided to close its production from 15th July 2024 to 22nd July 2024 (both days inclusive),” the statement read.
Also read: Latest Toyota Yaris price in Pakistan
Pakistan’s auto sector is facing significant challenges due to the country's sluggish economic growth, rising inflation, and high borrowing costs, which have negatively impacted vehicle sales.
According to a recent JS Research report, Pak Suzuki, Honda, and Toyota — commonly referred to as the “Big Three”—reported a combined volume of approximately 88,000 units for the financial year 2023-24, marking a 21-year low.
The sharp decline in sales is attributed to decreased consumer purchasing power, an increased influx of used imported cars, and higher car prices driven by currency depreciation and taxes imposed on auto manufacturers.
In the financial year 2022-23, the Big Three sold a total of 113,346 units, the report noted.
