KARACHI, Dec 8: The Indus Motor Company (IMC) has invested Rs500-600 million to roll out locally assembled sports utility vehicle (SUV) from the first quarter of 2013.
Senior General Manager Marketing IMC Ali Asghar Jamali told Dawn on Saturday that the company is targeting to initially assemble 2,000 units per annum of Toyota Fortuner, 2,700cc petrol version.
However, he said that the price has so far not been finalised for the new SUV.
When asked why IMC has not introduced any small car in place of Daihatsu Cuore, he said the big vehicle was actually planned few years back. (they are not simply interested )
The company, he said, had also invested Rs4bn to Rs5bn in press shop in the last two years.
On a question regarding competition of Toyota?s new locally produced vehicle with its used imported vehicle (five-year-old), like Nissan Petrol, Toyota Prado, Toyota Land Cruiser, Honda CRV, etc., he said the local vehicle would definitely have an edge due to warranty and full backing of after-sales service and parts facility.
He said Pakistan is a lucrative market but the industry usually gets disturbed due to frequent changes in the auto policy.
Japanese will invest more, if policies remain stable, he added.
He said currently local auto industry has been facing a laggard period in terms of falling sales for the last five months owing to influx of imported cars and used jeeps and SUVs.
He said the IMC has the capacity to produce 201 units of Toyota Corolla and Hilux vehicles per day but in view of thin sales, production has been dropped by 25-30 per cent.
?I think it will take at least six months for the local industry to see recovery in their sales as markets still have unsold stocks followed by import of vehicles in the pipeline,? Ali said.