KARACHI – The Indus Motor Company Limited, which assembles the Toyota vehicles in Pakistan, has announced shutdown of its production plant till October 9, 2023.
The auto assembler has informed the Pakistan Stock Exchange (PSX) about its decision to halt the production through a notice. The decision, the company said, has been taken due to the current level of inventory of manufactured vehicles. It added that the plan will remain closed from September 28, 2023, to October 9, 2023 (both days inclusive).
Previously, the Toyota Indus had shut its production planed during August 25 to September 6, 2023 due to low demand and inventory levels.
Moreover, the company had insufficient inventory levels to continue its production activities in June this year and had therefore chosen to completely shut down its production plant from June 26 to June 27.
This marks the fifth time this year that Indus Motor has announced production closures. Previously, the company suspended its plant operations from June 3 to June 8, May 2 to May 3, February 1 to February 14, and again from March 24 to March 27, all due to inventory shortages.
