Toyota IMC Temporarily Halts Production

In a notification, Toyota Indus Motor Company (IMC) has announced that it is shutting production for 14 days in September due to insufficient inventory levels.

According to the details, the company will suspend production from 1-14 September as it is running low on inventory and needs to follow the new mechanism that requires the approval of Completely Knocked Down (CKD) kits import from the State Bank of Pakistan (SBP).

The company says that new mechanism for import of CKD kits has created some barriers that have lead to inventory problems.

“Due to insufficient inventory levels to maintain production, the company has decided to temporarily halt its production activities. In the light of above, the company has decided to temporarily shut down its production from 1st September 2022 to 16th September 2022. However, in case of any change in production plan due to approvals being sought, the same will be communicated accordingly.” the notification read.

It is pertinent to mention that State Bank of Pakistan (SBP) has been restricting the approval of Letter of Credits (LCs) for the import of Completely Knocked Down (CKD) kits, which has caused many automakers to observe production delays due to unavailability of parts.

The non-production days being observed by Toyota IMC will cause delay in car deliveries to customers.

Meanwhile, some automotive companies have resumed bookings for their cars.

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