Pak Suzuki Motor Company (PSMC) has resumed vehicle production after an almost month-long pause.
According to a recent update from Autojournal.pk, the company has resumed local car assembly as of July 21. The report adds that the company has received completely knocked-down (CKD) assembly kits for the next three months.
Initially, the plant was shut down from 22 June to 8 July. However, on 27 June PSMC announced that the closure would be extended until 15 July. On July 8, the company decided to prolong the shutdown until 19 July due to the persistent shortage of parts.
With this significant stock update, the company hopes for a considerable bump in sales. Although market speculations suggest that the demand for new economy cars has decreased due to the diminished purchasing power of the masses thanks to inflation.
The government is gradually easing import restrictions for carmakers and the banks have begun issuing letters of credit (LCs) to automakers. However, the sector’s stability is still uncertain due to the local currency volatility and economic turbulence.
