Toyota and Suzuki Extend Plant Shutdowns in Pakistan
After resuming the bookings of its few models after suspending it from July 1 onwards, Pak Suzuki has announced to extend its plant shutdown from August 29th to 31st. Earlier, the company had kept its plant shut from August 18 & 19, and from August 22nd to 26th.
This is due to the State Bank of Pakistan’s restrictions that have adversely impacted clearance of import consignments, which resultantly affected the inventory levels, according to the company. Meanwhile Suzuki says its two-wheeler assembly plant would remain operative.
In addition, Indus Motor Company (IMC) has also announced a new production cut that will be observed in the first half of September. As per company notification, IMC says it has decided to temporarily shut down its production from 1st September to 16th September 2022. However it adds that in case of any change in production plan due to the approvals of CKD imports, it will be communicated accordingly.
Local assemblers were already anticipating a 30% decline in sales in FY22-23, however considering the ongoing situation the dent in sales will be much greater than anticipated. July 2022 sales already registered a 59% month-on-month decline in sales of local assembler cars including non-PAMA members. However August sales are expected to be even lower than July.