Suzuki shuts down production again. Suzuki, Pakistan’s leading automaker, has announced another plant closure due to the current economic crisis, as the company struggles to import raw materials due to severe curbs imposed by the incumbent government.
Pak Suzuki stated in a notice to the Pakistan Stock Exchange that its automobile and motorcycle plants will be closed from June 22 to July 8, 2023, and operations will be suspended during that time.
As Suzuki shuts down production again, the notice said, “Due to a shortage of inventory level, the management of the company has decided to shut down the motorcycle and automobile plant from June 22, 2023, to July 8, 2023”.
Due to import restrictions, Pakistan’s auto industry is in hot water, with carmakers offering customers the option to cancel reservations and receive refunds. Several vehicle manufacturers, including Suzuki, saw their sales suffer as a result of the staggering price increases.
Must read: Suzuki shuts down production plant for five days
All major players in the auto industry are feeling the brunt of the economic downturn, as the country’s auto sector is heavily reliant on imports and has been stressed by the rupee’s shocking depreciation.
According to data provided by the Pakistan Automotive Manufacturers Association, vehicle sales fell by 80% year on year last month.
Suzuki Motor Corporation is a Japanese multinational corporation headquartered in Hamamatsu’s Minami-ku.
Suzuki produces automobiles, motorcycles, ATVs, outboard marine engines, wheelchairs, and a variety of other small internal combustion engines.
Suzuki was the world’s eleventh-largest automaker by production in 2016. Suzuki employs over 45,000 people and operates 35 manufacturing facilities in 23 countries, as well as 133 distributors in 192 countries.
Automobile sales are the tenth largest in the world, while domestic sales are the third largest in the country.
