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Toyota Pakistan Halts Production for Six Days Amid Parts Shortage

KARACHI (Business Desk) – Indus Motor Company Limited (INDU), the makers of Toyota and Daihatsu vehicles in Pakistan, has announced a temporary closure of its production plant for six days due to a shortage of essential auto parts and depleting inventories of cars.

In a notice sent to the Pakistan Stock Exchange (PSX) on Thursday, the company informed its investors that it will suspend manufacturing activities from March 6 to March 11, 2024, citing challenges in sourcing critical components from external vendors.

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“The management of Indus Motor Company Limited has decided to shut down the company’s automobile plant for a period of six days from March 6, 2024, to March 11, 2024, due to shortage of cars available for sale and depletion of parts required for manufacturing,” the notification stated.

The temporary shutdown, the company said, is a measure to realign its production with the current market demand and inventory levels of vehicles and components.

Indus Motor is one of the major players in Pakistan’s automobile sector and enjoys a near-monopoly in the production and sale of Toyota-branded vehicles, including popular models such as Corolla, Fortuner, and Hilux.

The announcement comes at a time when the country’s auto industry is grappling with multiple challenges, including disruptions in the supply chain, higher input costs due to currency devaluation, and subdued demand amid economic headwinds.

Under the regulations set by the Securities and Exchange Commission of Pakistan (SECP), listed companies are required to promptly disseminate all price-sensitive information to maintain transparency and keep investors informed about any significant developments that could affect their operations or financial performance.

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