Production to halt in Pakistan due to economic crisis as Indus Motor Company (IMC), the assembler of Toyota cars in Pakistan, has decided to offer refunds to customers facing delays in deliveries.
Toyota Indus might have to shut down all production operations due to the current economical disturbance.
Chief Executive Officer at IMC. “We will give customers the option to avail a refund with the full interest. Production to halt in Pakistan due to economic crisis.
In case they choose not to opt for this (refund), they will have to wait at least 3 (more) months from the delivery month given on the Provisional Booking Order Form and (also) pay the price differential due to the exchange rate situation”, Jamali said.
Another main reason is the devaluation of the rupee which is another factor in a disturbance in vehicle production and resulting in delayed deliveries. The auto industry is going to be severely impacted by all of these concerns taken together.
The primary reasons behind price hikes are political uncertainty, economic instability, and declining of the rupee, currently fragile conditions in Pakistan.
The unstable dollar rates in Pakistan and vulnerable economic state in Pakistan are causing high inflation rates in history. The rising inflation in Pakistan is also affecting the prices of vehicles in Pakistan.
Other major vehicle brands in Pakistan such as Changan, Honda, Suzuki, etc. have also announced huge increase in vehicles are Dollar has risen up to 250 that is highest in history.
The Pakistani automotive industry is suffering as well due to political and economical chaos. Production to halt in Pakistan due to economic crisis.
