General Tyre Shuts Down Operations
Due to the ongoing economic crisis and decreased demand, General Tyre & Rubber (GTR) has announced a number of non-production days (NPDs) for March 2023.
According to an official announcement, General Tyre will be ceasing production from March 24, 2023, to April 3, 2023. The notification cited inventory shortages created by the State Bank of Pakistan’s import restrictions. (SBP).
Foreign exchange shortfalls and raw material shortages have choked the country’s automobile industry. Car sales fell again last month due to lower output and demand.
According to the most recent data from the Pakistan Automotive Manufacturers Association (PAMA), carmakers (association members only) sold just 5,762 cars in February 2023, a 47% decrease month over month (MoM) but a 73% decrease year over year (YoY).
Foreign exchange shortfalls and raw material shortages have choked the country’s automobile industry. Car sales fell again last month due to lower output and demand.
According to the most recent data from the Pakistan Automotive Manufacturers Association (PAMA), carmakers (association members only) sold just 5,762 cars in February 2023, a 47% decrease month over month (MoM) but a 73% decrease year over year (YoY).
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