KARACHI – Pakistan’s leading automaker Suzuki has extended the shutdown of its manufacturing cars and motorcycle for another week due to ongoing shortage of inventory level.
In an earlier notification, the company had announced plant shutdown from June 22 to July 08, 2023. It has now been extended till July 15.
In a letter to the Pakistan Stock Exchange (PSX), the company said the decision had been taken due to a persistent shortage of raw materials.
“Due to continued shortage of inventory level, the management of the company has decided to extend the shutdown of automobile and motorcycle plant till July 15, 2023,” Suzuki said in its notice.
The Suzuki’s motorcycle plant remained closed for five days at the start of June, while the automobile unit also remained closed in May for eight days along with the bike manufacturing.
Pakistan’s auto industry is in hot waters due to import curbs as carmakers are offering customers to cancel bookings and claim refunds. Amid staggering price hikes, the sales of several vehicles including Suzuki also affected.
All big players of the auto industry are under the severe impact of economic meltdown as the country’s auto sector is dependent on imports and remained under stress amid the shocking depreciation of the rupee.
Data shared by Pakistan Automotive Manufacturers Association revealed that vehicle sales nosedived by 80 percent year-on-year last month.
