Pak Suzuki Motor Company (PSMC), which is Pakistan’s biggest automotive company by production and sales volume, hasn’t produced a single car in 2023 so far.
The company has been on a production hiatus since the beginning of this year due to insufficient inventory. Its non-production days (NPD) were to conclude on January 23, 2023.
A report from autojournal.pk claims that Toyota Indus Motor Company (IMC) has been working on a single-shift production schedule. Normally it produces over 250 vehicles a day, however, nowadays, it is producing just around 50 units.
Honda Atlas Cars Limited (HACL) and Master Changan Motors Limited (MCML) are also reportedly operating on a single shift while observing 1 NPD every week. Kia Lucky Motor Corporation (KLMC) is deliberately keeping the production volumes low due to abundant inventory and low demand.
Carmakers are also trying to lure in buyers by offering discounts and price locks for limited stock and time. Reports also suggest that a price hike wave is inbound, given the rising dollar rate and operational expenses, and declining revenues.
Toyota IMC and Sazgar Engineering Works Limited (SEWL) have already increased the prices of their cars. Given the ongoing economic situation, other carmakers will likely soon follow suit.