Indus Motor Company Limited (INDU) is investing approximately Rs. 3 billion to increase the localization of parts and components for its vehicles. The Board of Directors has approved this strategic move, demonstrating the company’s dedication to reducing foreign exchange outflow and supporting the local auto industry.
This investment will primarily focus on expanding the localization of various existing vehicle models, in line with the company’s long-term goals.
It includes expenses for plant infrastructure, machinery, molds, dies, and other necessary costs for localizing parts and components production. The targeted completion by the third quarter of 2025 indicates a diligent timeline for implementation.
By enhancing localization efforts, Indus Motor Company aims to promote self-sufficiency within the local automotive sector while maintaining global quality standards. This initiative not only helps reduce foreign exchange outflows but also encourages economic resilience and job creation in Pakistan.
In addition to its role in assembling, progressive manufacturing, and marketing Toyota vehicles, the company’s position as the sole distributor highlights its crucial role in advancing the automotive landscape in Pakistan.
Toyota Pakistan Sales Surge by 304%
After months of sales and production struggles, IMC (Toyota Indus Motors) is showing signs of significant recovery, with strong indications of improvement.
According to the PAMA report (Pakistan Automotive Manufacturers Association), Toyota Pakistan’s sales have increased by a remarkable 304%, selling 3,570 units last month compared to 684 vehicles in December 2023. The company sold 1,207 units of Corolla and Yaris, as well as 132 units of Fortuner and Hilux.
Prior to this, IMC experienced significant sales contraction and consecutive production shutdowns due to low inventory. The decline in Pakistan’s economy prompted the State Bank of Pakistan to impose import restrictions, which had a negative impact on the country’s car industry.
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