Toyota IMC Apologizes for SBP-Related Demise of the Automobile Industry

Toyota IMC Apologizes for SBP-Related Demise of the Automobile Industry

Toyota IMC Apologizes for SBP-Related Demise of the Automobile Industry

Toyota IMC Apologizes for SBP-Related Demise of the Automobile Industry

Toyota Indus Motor Company (IMC) is now operating in Pakistan

at a 40–50% production capacity due to continuous economic and operational challenges.

Toyota IMC emphasised that the State Bank of Pakistan’s (SBP) import limitations are mostly to blame

According to the present manufacturing rate, IMC noted that it had reservations filled for the following three months. It stated that close to 400–500 of its clients cancelled their reservations and earned a markup on the total.

The business claimed that because of the easing of regulations, it can reduce the lead time to 4-5 weeks. Additionally, due to SBP’s restrictions on car loans, the percentage of people financing cars has decreased recently, from 35% to just 10%.

Following a 39% drop in tariffs and taxes, IMC said that localization for both the Toyota

Toyota has issued a warning that Pakistan’s new automakers may leave the country due to issues with

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