The ongoing economic and operational hurdles in Pakistan have forced Toyota Indus Motor Company (IMC) to operate at a 40-50% production capacity.
During its latest Corporate Briefing Session (CBS), Toyota IMC highlighted that the reduced production capacity is mostly due to the State Bank of Pakistan’s (SBP) restrictions on imports. The company also stated that the restrictions are expected to last for an extended period.
IMC added that it has bookings filled up to the next 3 months, as per the current pace of production. It added that almost 400-500 of its customers canceled their bookings and received the amount with markup.
The company said that it can bring the lead time down to 4-5 weeks following the ease of restrictions. It added that car financing has dropped from 35% to just 10% in recent months due to car loan restrictions from SBP.
IMC said that the localization of both, the Toyota Corolla and Yaris has reached 65% percent following a 39% reduction in duties and taxes. Furthermore, the company’s plan to invest $100 million in the local hybrid electric vehicle (HEV) development is also on schedule, with the launch of the company’s first locally assembled hybrid car expected late in 2023.
Toyota has warned that the local automotive industry’s troubles such as rising inflation, supply chain hiccups, production cuts, and import restrictions may also spark an exodus of some new carmakers from Pakistan. The company mainly holds SBP’s restrictions on automotive imports as the main culprit for most issues.
Via: Topline Securities
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import restrictions may also spark an exodus of some new car assemblers from Pakistan….. good news
Toyota IMC need to shut the f*** up! They have been in Pakistan for decades, and still import parts and just assemble the vehicles here. Why haven’t they setup a proper manufacturing plant rather than an assembling plant? Toyota can pack its stuff, and leave. They are not contributing anything to the country, instead they only send our foreign reserves to the parent company Toyota Japan in the name of profits. They also stopped other players from entering the market in the past. Go and threaten someone else.
Toyota IMC need to shut the f up! They have been in Pakistan for decades, and still import parts and just assemble the vehicles here. Why haven’t they setup a proper manufacturing plant rather than an assembling plant? Toyota can pack its stuff, and leave. They are not contributing anything to the country, instead they only send our foreign reserves to the parent company Toyota Japan in the name of profits. They also stopped other players from entering the market in the past. Go and threaten someone else.
Toyota IMC need to shut the **** up! They have been in Pakistan for decades, and still import parts and just assemble the vehicles here. Why haven’t they setup a proper manufacturing plant rather than an assembling plant? Toyota can pack its stuff, and leave. They are not contributing anything to the country, instead they only send our foreign reserves to the parent company Toyota Japan in the name of profits. They also stopped other players from entering the market in the past. Go and threaten someone else.
They are themselves to blame.. Even after 25 years they are importing parts . It should be completely made in Pakistan or atleast 80%.Easy to put blame on some one else.
The Indus motor company should focus on 100% indiginization and exports
they bribe the industry ministers and should be made to fallow an agreement for 100 percent localization after 10 years or should be taken to court
Toyota, Honda, Suzuki khud konsay masoom hen??
Itni mehangi gaariyan sale kartay hen phir onn bhi letay hen customers se. In ki gaariyon me koi features nahi hotay. Or rates international markets wale kyun?
Aam logo ki phnch se door kardi hen.
Jab khud per pari tu cheekhain nikal rahi hen.
Mai tu advice donga govt. Ko k in se pochen ye itni mehangi gaariyan kyu sale kartay hen? Or onn setup bilkul khatam karen.
In ka bhi ehtisaab hona chahiye..
You are in production since early 90’s what you people dilever substandard vehicals at the price of international value. And even after this much time span the all big three are not able to produce locally so don’t put blam on others you people are wasting our precious f. Exchange.