Connect with us

Hi, what are you looking for?

Autos

Why Toyota Pakistan Suspends Bookings Once Again?

why toyota pakistan suspends bookings once again

Toyota Pakistan aka Indus Motors Company (IMC) announced that it has suspended all car bookings throughout the country. The move takes place roughly a month after the car maker suspended car bookings to all Pakistani customers for two weeks.

The company has announced a temporary suspension of the bookings for all its individual-car models due to risks to the program from uncertain and unstable market conditions. Toyota Pakistan issued a notification to all dealerships directing them to suspend bookings of similar car models until further notice.

The unexpected situation came during a period of economic and political instability with the new coalition government being unable to perform because the situation He came to power in after he ousted a previous Prime Minister Imran Khan through a vote of co-confidence motion.

It is important to mention that the rupee of Pakistan (PKR) has reach to a historic low against the dollar this month. Today (Wednesday) local rupee has declined to Rupee 198.39 in the inter-bank market. This represents a downfall of rupees 2.65 from the previous day (Tuesday).

The Pakisatni Rupee (PKR) has depreciated by Rs. 14.3 since April 1, and it is expected to fall even further unless the IMF releases the next tranche of $1 billion. Furthermore, the stock market continues to crash, while inflation is at a record high.

The announcement by Toyota to suspend car reservations for all vehicles is anticipated as vehicle manufacturers import majority of the materials needed to assemble automobiles in Pakistan. The sustained downfall of the Pakistani Ruble versus the US dollar has pressured the automotive market, which is said to have led to this decision.

It is expected that other manufacturers will follow Toyota Pakistan in this decision with the suspension of their bookings in the coming days unless Pakistani rupees recovers against the USD and the stock market increases.

Toyota Pakistan (Indus Motors Company) maintains that it will continue to transport automobiles on schedule for customers already booked by them.

rizwanrkiff@gmail.com'
Written By

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

Sports

As per the latest Asia Cup hockey 2022 Standings, results, in the ongoing 2022 Hockey Asia Cup, Pakistan defeated Indonesia 13-0. As a result,...

Gaming

Free Fire is a multiplayer battle royale game that runs on a variety of operating systems. Following its release, the game proved to be...

Gaming

In this article I will share to Buy PUBG UC in Pakistan through MidasBuy Easypaisa & JazzCash account. Please follow the instructions and get...

Pakistan

Aamir Liaquat Hussain, a former Member of National Assembly (MNA) and TV broadcaster, has had an obscene video leaked on social media. According to...

Advertisement