The Auto industry barely survives in the country as Economical crisis worsens in Pakistan.
The fact that Ghandhara Nissan Limited (GNL) Assembler of Chery Tiggo 4 Pro and Tiggo 8 Pro in Pakistan has suspended vehicle production for 7 days testifies to the dire state of the industry.
Also Read: European Automakers ‘Volkswagen & Skoda’ are all set to launch in Pakistan
From 6th March 2023 to 10th March 2023, the company will observe non-production days (NPDs). The company will resume operations on Monday 13 March 2023 after the upcoming weekend. It cites import restrictions on completely knocked-down (CKD) kits as the reason for the NPDs.
According to Company Offoicals, the Production has been halted for further orders due to a shortage of Inventory.
Chery has also become popular among crossover across Pakistan. Although, the recent decline in production and sales has degraded the company’s progress.
Earlier last month Automaker Pak Suzuki Motor Company Ltd (PSMCL) announced a plant shutdown due to an economic crisis and Inventory shortage in the country.
“Due to continued shortage of inventory level, the management of the company has decided to shut down automobile plant from 13th to 17th February 2023,” stated a notice sent to the Pakistan Stock Exchange (PSX).
Remember that Rupee has fallen, inflation has reached high levels for decades and Pakistan’s economy has collapsed alongside a political crisis. However, devastating floods and a global energy crisis have added additional stress and harmed the country’s economy.
A shortage of imported parts and materials forces automotive and other industries to shut down their operations. Due to a shortage of foreign reserves, thousands of containers containing essential food items, raw materials, and medical supplies have been held up at the Karachi port.
Banks are refusing to issue new letters of credit to importers because they don’t have enough dollars.
