Indus Motor to Temporarily Halt Production Due to Parts Shortage

Indus Motor Company Limited (PSX: INDU) announced an eight day plant shut down on Friday. In a notice to the Pakistan Stock Exchange (PSX), the company said it has decided to close its production plant from 15th July 2024 to 22nd July 2024 (both days inclusive). The company said that the decision is based on current low level of inventory of manufactured vehicles, and shortage of parts and components for manufacturing of vehicles, due to supply chain challenges. In case of any change in plan will be updated accordingly, it added. The company is the sole distributor of Toyota and Daihatsu vehicles in Pakistan and has a license for assembling, progressive manufacturing and marketing of these vehicles in Pakistan.