The impact of the current economic crisis has reportedly forced Toyota Indus Motor Company (IMC) to halt production in Pakistan.
In accordance with the information, Toyota IMC will reimburse clients who paid deposits for reservations since the business is unable to complete such orders.
Toyota IMC previously cited restrictions on the State Bank of Pakistan’s (SBP) approval of Letter of Credit (LCs) for the import of Completely Knocked Down (CKD) kits as one of the main causes of production interruption, which also resulted in a backlog of orders.
Customers who are unable to wait for delayed deliveries will receive their advance payments back from Toyota IMC, and the company plans to disclose this by the end of the month.
Fans are now speculating as to whether Toyota IMC intends to entirely cease operations in Pakistan in light of the recent situation.
The issue might only last a short while because Toyota IMC will refund customers for purchases they have already placed, but it won’t cancel orders if the client accepts a delayed delivery of the vehicle and is willing to pay an extra amount to cover the exchange rate changes.
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