Import Restrictions Force Toyota’s Facility To Close Until February 14th.
Due to import limitations, the Indus Motors Company (IMC), the assembler and seller of Toyota-branded automobiles in Pakistan, has chosen to “totally” close its production unit in the country from February 1-14.
The manufacturer informed the Pakistan Stock Exchange’s general manager that the government had authorised commercial banks to assist imports to specific industries, which did not include the auto industry.
Supplies are running low due to a shortage of computer chips, which are essential in vehicle parts. Plants in and out of Japan have been subjected to COVID-19-related lockdowns and stoppages. Toyota has not provided any information.
“The company and its vendors continue to encounter significant challenges in importing raw materials and obtaining clearance from commercial banks,” the letter stated.
The company stated that it was unable to import raw materials and car components.
According to Toyota, production in January would be decreased by 47,000 vehicles due to the most recent adjustments. Despite strong demand for Toyota products, output will now fall short of the 9 million vehicle target for the fiscal year ending March. According to Toyota, all manufacturers are trying to obtain the limited supply of chips, exacerbating the pressure.
“As a result, the company has insufficient inventory levels, and the company is unable to continue its production activities,” the notice stated. From February 1 to 14, the factory will be entirely shut down.
From February 15, manufacturing will be curtailed to a single shift until further notice.
“We are doing everything possible to get our automobiles to our customers as quickly as possible,” the company said in a statement. “We sincerely apologise.”