Indus Motor Company (IMC), the company that puts together Toyota cars in Pakistan, has said that it will stop making cars from September 28 to October 9 because it doesn’t have enough car parts.
This is the eighth time they’ve had to stop production this year. The car industry in Pakistan is facing problems like rules from the government that make it hard to bring in car parts from other countries, difficulties in getting Letters of Credit (which are needed to buy things from abroad), high costs for getting loans, and big price increases.
All of this has led to fewer people buying cars in Pakistan. In August, car sales in Pakistan were 36% lower than they were the year before. Indus Motor’s profit after taxes in the year 2023 is also down by almost 39% compared to the year before.