Economic charts in the country are getting worse, there appears to be no end to the tales of woe and misery emerging from Pakistan’s auto industry. And it may take years for Pakistan to overcome the destruction wrought in the in the local industry.
Toyota Indus Motors (IMC) and Pakistan Suzuki Motor Corporation (PSMC) are announcing back-to-back production cuts. The smallest among the BIG 3 dubbed Honda is also facing the toughest fate since its inception in the country. As per the reports no civic is produced in last month and there is no sale either. Mind you, after Covid-19, this is first time, Honda Atlas observed zero sales or production.
Honda told us the reason behind the worst (zero production and sale) is zero production. The main cause of production shutdown is ‘import restrictions’ inflicted by the State Bank of Pakistan (SBP) leading to ’no inventory’. Meanwhile the good news is that the booking is open for Honda cars.
it is related to mention that currently Honda Atlas’ production is suspended in Pakistan. Honda Atlas has decided to extend its production plant shutdown for 15 more days.
Honda Atlas Extended Plant Shutdown
Amid not Letters of Credit (LCs) and an unstable economy, Honda Atlas has decided to extend its production plant shutdown for more than two weeks.
In a letter to Pakistan Stock Exchange (PSX), the car assembler cited supply chain disruption due to the deterioration of the economy, along with restrictions on raw materials and CKD imports, as the main reasons for the shutdown. The letter also mentioned halting foreign payments as a reason for this step.
“As a result, the company is not in a position to continue with its production and ultimately has continued to shut down its plant from April 01, 2023, to April 15, 2022,” the letter added.
No sales and no production yet Booking is open ! It is nothing but to make people fool to buy cars at insane and astonishing and unjustified and ridiculous price n to keep waiting for vehicle for an indefinite time period. I cancelled Civic which I booked last year that too after waiting for good 10 months ( delivery in Jun 23). We should boycott prices as Civic @ 10 million is a joke. Let the company be closed for good but people come first.