Indus Motors shut down production for September
Toyota Indus Motors has shut down production in Pakistan for the month of September
News broke a few days ago of Toyota Indus Motors shutting down its production plants for the remainder of the month of September. This is because of continuously falling demand
A certain official working at Indus Motors (IMC) has stated that production will stay shut from 20th to 30th September.
CEO Parvez Ghias had stated that he was optimistic to see a revival in demand around the time of Eid-ul-Fitr and September. Well, its September and there are no signs of increasing demand.
Vehicles prices have increased considerably over the year. It is the result of the constant dollar-rupee exchange rate fluctuation, Federal Excise Duty of 2.5-7.5%, customs duty on imported car parts and raw materials, coupled with high interest rates.
Honda had halted production back in July, due to plummeting sale numbers and rising prices. Indus Motors had also previously shut production for 8 days in July, and 2 days in August.
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