Toyota Indus Motor Company (IMC) has issued an official statement announcing full refunds along with a mark-up payment for order cancellation as the company is unable to meet the delivery deadlines, which have been “pushed back by at least months.”
According to the notification, Toyota IMC says that it will issue 100% refund to customers along with a mark-up payment if they decide to cancel their orders. It added that “mark-up shall be paid from the date of receipt of payment by the company to the date of cancellation of order, without any deduction of administrative charges.”
“In light of this uncertainty, the tentative delivery timelines mentioned in the PBO for pending orders are being provisionally pushed back by at least 3 months.” said Toyota IMC, adding that and the price prevailing at the time of delivery of vehicle shall continue to be applicable.
Meanwhile, the company said that it was working closely with the Government and other regulatory authorities to minimize the delay as much as possible. However, the unforeseen devaluation of Pakistani Rupee against US Dollar (USD to PKR) along with inability to obtain Letter of Credit (LCs) for import of Completely Knocked Down (CKD) kits has created a disrupted the production process for the company, which will lead to delays in vehicle delivery.
“We are unable to foresee how long these and other external factors will persist, and cannot rule out the possibility of disruptions to manufacturing in the near future.” Toyota IMC added. Therefore, the company is now providing full refund to customers along with mark-up payment if they wish to cancel their orders instead of waiting for delivery.
This is a copy of the notification:
It is pertinent to mention that reports of Toyota Indus Motor Company (IMC) shutting down production in Pakistan have been going around since a few days and while the company is not going to shut production completely, it will observe non-production days (NPDs) to cope with the unavailability of CKD kits.