April 07, 2022 (MLN): Toyota Pakistan has suspended the bookings of all of its cars on Thursday mainly owing to the deteriorating economic condition.
In its statement, the company notified that “Due to current uncertain and volatile market conditions, the order intake for all Toyota models has been closed till further notice.”
The announcement by Toyota Pakistan was not unexpected, especially with regard to the rapid devaluation of the Pakistani rupee against the USD. There seems to be no respite for the rupee in the coming days because of political instability in the country, a report by PakWheels noted.
Toyota Pakistan is not the first company to take such a step, as on April 4, Kia Lucky Motors suspended the bookings of all variants of Kia Picanto, Kia Sportage, and locally assembled Kia Stonic. As per the notification, the company suspended bookings of these variants till further notice.
More importantly, if the situation remains the same, other companies will follow, leading to more chaos in the local auto industry and market. Hence, we hope the political situation will stabilize soon, and this uncertainty will end, it added.
