Indus Motors Will Not Produce Vehicles in September!!!
Toyota Indus Motors have decided to shut down its plant. Due to fall in demand, the company ceased the production of vehicle for the rest of the month. Same has happened previously. According to an official of Toyota Indus Motors, in the month of July the company observed 8 Non-Production Days. While, In August the non-production days count was 11-15.
The Automotive industry in Pakistan is facing trouble due to high taxes and FEDs the prices are sky-high causing a great fall in demand. It is being reported that there are already more than 3000 unsold vehicles.
The official of Toyota Indus Motors has mentioned that the FED of 2.5% to 7.5% on various engine cars along with additional customs duty on imported parts and raw material has over-priced most of the vehicles that exceeds the benchmark market rate.
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