KARACHI – Pak Suzuki Motor Company, the maker of Suzuki vehicles, has again decided to shut down its production plant in the country citing a delay in import approvals as the economic crisis worsened in recent times.
The largest car assembler shared the development in a notification, saying it faces operational challenges which forcing the company to announce another round of non-production days this month.
The notification confirmed that the auto giant will stop production from February 20, 2023, to February 21, 2023. It however maintained that the motorcycle production unit will remain operational and that any changes in plans will be communicated in the coming days.
Citing disruptions in supplies, Pak Suzuki announced five non-production days earlier this month and a 10-day halt in January 2023.
The recent development comes a week after Suzuki announced its second price hike this year in the range of Rs175,000-350,000, after an upward price revision by other carmakers.
Amid staggering price hikes, the sales of Pak Suzuki plunged as the auto industry is battling amid an uncertain economic situation. It only managed to sale only 44 Alto units last month in comparison of 3,864 Alto units sold in December.
The auto industry of South Asian nation is mostly dependent on imports and remained under severe stress amid the shocking depreciation of the local currency, and imposed curbs on the LCs. Besides auto, several other Industries are bearing the brunt in operations amid a huge slump in foreign exchange reserves held by the country’s central bank.