Indus Motor Company Limited (PSX: INDU) has temporarily closed its production plant from March 6th to March 11th, 2024, citing supply chain challenges and low inventory levels of manufactured vehicles. The automobile assembly company disclosed this information to the main bourse on Wednesday.
The stock filing mentioned, “Due to the current shortage of parts and components for vehicle manufacturing, along with low inventory levels, the Company has decided to suspend production operations from March 6th, 2024, to March 11th, 2024, inclusive.”
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The filing also stated that any changes to this plan will be duly updated.
This marks the first production closure announcement by Indus Motor in 2024.
INDU is the exclusive distributor of Toyota and Daihatsu vehicles in Pakistan and holds licenses for assembly, progressive manufacturing, and marketing.
