Toyota Indus Motors has announced that they will be reimbursing 100% advance bookings along with mark-up to their customers in case of order cancellation.
The company issued an official notice on 27th July 2022 declaring that they are willing to pay back the whole advance payment to their customers due to delays and uncertainties in delivery dates. This reimbursement will also include a mark-up payment. The mark-up will be paid from the date of the receipt of payment by the company to the date of cancellation of the offer. No administration costs will be charged.
Toyota has stated that the deliveries might be pushed back 3 months due to the devaluation of the Rupee and restraints in LC issuance. The company said it is working closely with the government to minimize the delay problems.
“We are unable to foresee how long these and other external factors will persist, and cannot rule out the possibility of disruptions to manufacturing in the near future.”, IMC stated in its official notice. Therefore, the company is refunding the full amount of deposits along with mark-up to the customers who will be canceling their orders.
There was already news of the company shutting down production operations in Pakistan due to the current economic situation.
Here is a copy of the official notification.
