Pak Suzuki Motor Company (PSMC) has decided to extend the closure of its motorcycle plant and automobile plant in Pakistan due to shortage of inventory and raw materials.
In a letter issued to the Pakistan Stock Exchange (PSX), Pak Suzuki Motor Company (PSMC) stated, “Due to shortage of inventory levels […], the management of the company has decided to extend shutdown period of its motorcycle plant till April 15, 2023.”
It added, “The automobile plant will also observe shutdown on April 07, 2023 and April 14, 2023 due to shortage of inventory levels.”
It is pertinent to mention that automobile assemblers are facing a lot of difficulties doing business because of the country’s economic state and constant rise in cost of production.
This is the sixth time Pak Suzuki Motor Company (PSMC) has shut down production since the start of the year, while many other suspensions are likely to be announced in the future.
Previously, Suzuki Pakistan announced non-production days (NPDs) on March 17 for automobiles, while the company suspended bike production for 12 days.
Suzuki Pakistan has also suffered a major loss in sales as it sold just 2,940 cars in the month of January, which was a massive 74% decline compared to the last month. The fall was mainly due to Suzuki Alto’s sale dropping from 6,898 units in December 2022 to just 44 units in January 2023.
Read more: Suzuki Alto Witnesses Massive Sales Drop in January.
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