Due to a continuing fall in demand, Indus Motors Company (IMC), the maker of Toyota vehicles, has decided to shut down all production for the remaining days of September, Dawn reported.
As a result, reports said, the total number of Non-Production Days (NPDs) this month will reach 15 and quoted an IMC official as saying that the company had already observed eight NPDs in July and 11-12 NPDs in August.
Claiming that “half of the month was off”, the official said that the federal excise duty (FED) leveled on various engine capacity cars, the skyrocketing prices of the cars owing to the rupee-dollar parity and high-interest rates had made their cars too costly.
A Toyota vendor was also quoted as saying that IMC’s production would remain shut from September 20-30.
Toyota Corolla production and sales dropped to 5,308 units and 3,708 units respectively in July-August from 8,804 and 8,770 units in the same period during last fiscal year, representing a fall of 40 per cent and 57 per cent, respectively.
“Toyota Hilux production and sales have also plunged while that of Toyota Fortuner have come down to 232 units and 162 units from 484 units and 424 units, a drop of 52 per cent and 62 per cent, respectively,” the report said.
