Business
Toyota shuts down production plant till Oct 9
Toyota Indus Motors officially informed the Pakistan Stock Exchange of this in a letter on Sept 28.
Islamabad: Indus Motors has announced to shut down production plant of Toyota cars temporarily from September 28 to October 9 on Thursday.
Toyota Indus Motors officially informed the Pakistan Stock Exchange of this in a letter on Sept 28.
The plant has been temporarily halted for 12 days due to the current raw material stock crisis, according to the letter's wording from Indus Motors.
The letter's text stated that the corporation would let customers know if the temporary shutdown schedule changed.
The company reported that there are issues with the import of raw materials and a decline in the demand for new cars.
Due to the disruption caused by these problems, the company's inventory levels were insufficient to support production.
Additionally, the same causes led to a similar production suspension from June 26 to June 27.
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