After Indus Motor Company (IMC), Honda Pakistan has also announced a shutdown of plant due to inventory issues and parts shortages.
The company plant will remain closed for one week from October 24 to October 31.
Honda Pakistan stated to update accordingly in case of any change in the plan.
It is not for the first time that Honda has stopped production due to inventory issues. It had suspended manufacturing from March to May.
Earlier, Indus Motor Company (IMC) had announced plant shutdown from October 17 to November 17 due to inventory shortages.
IMC has informed the PSX that the production plant will be closed because of current level of inventory of manufactured vehicles and parts shortages due to supply chain challenges.
As per media reports, it was IIMC’s ninth production closure this year. Earlier, IMC announced a complete shutdown of its plant last month from September 28 to October 09 citing similar issues.
Auto sector of Pakistan, hugely dependent on imports, has been hit hard by the government’s decision to curb imports and restrict issuance of LCs. Additionally, higher finance cost and massive increase in car prices have also reduced demand.
In the first quarter of FY24, the sales stood at 20,983 units, down 40% as compared to the same period the previous year.
