Pak Suzuki Motor Company (PSX: PSMC) has decided to shut down the motorcycle plant for three days, the automaker informed the Pakistan Stock Exchange on Tuesday.
“Due to shortage of inventory level, the management of the company has decided to shut down the motorcycle plant from September 20, 2023, to September 22, 2023. However, the automobile plant will remain operative. Further update, if any, in this regard will be communicated accordingly,” the filing stated.
During 2023, the Japanese automaker has announced shutdowns several times. Last month, it said it would keep its motorcycle plant shut from August 18 till August 31. Later on August 31, the company announced that the plant would remain shut till September 12 and on September 12 the shutdown was extended till September 15.
It made similar announcements in July, June, and May as well, citing reasons such as low inventory level or a lack of raw material.
Suzuki, the largest automaker in Pakistan in terms of production and sales, has sustained a severe decline in sales and revenue due to intermittent production pauses. Since 2022, industry players in general have expressed concern about facing difficulties in obtaining import permits for their production quotas.