Overview
After a month Toyota suspends car bookings once again. Last month the company has suspended the booking of its all cars for two weeks. Toyota has closed the booking due to poor economic conditions. Automotive market strength falling due to high prices. Automakers are forced to increase the price after the rising strength of the Dollar. Economic uncertainty affected on car industry which cause high prices. Very sadly, Pakistan’s economical instability and political war never control the high rates of international currency. Inflation increases very speedily in Pakistan. All these causes create a mess and unfortunately, the new government never controls it.
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Economical Crisis and Automotive Industry
The automotive industry can only grow up when the economical situation of the country is well. It’s been a long time economical situation went worse and dollar rates affected costs and caused high inflation in the country. The new government is failing to control the rising inflation and still trying to adjust. The current dollar rate is at an all-time high and within a week it climbed from PKR190 to 195. This is an unbearable condition for automakers to offer cars at old prices where they pay high taxes and customs. Very high chance that it will go to PKR 200 and if it happens our economy will fall into a very bad situation.
Automotive surviving for the last couple of years but they can provide vehicles for bearable prices. Automakers import major parts of vehicles and pay customs duty in the dollar against the imported parts. With this dollar rate, they can’t offer old prices. The unstable economical condition force them to close bookings.
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What About Previous Toyota Cars Booking
Previous bookings will deliver to a client at a scheduled time. But Toyota Indus has never taken new bookings of vehicles. If the other automakers follow Toyota Indus and halt their booking it can be affected. But it can chaos which is not good. However, it is not possible to buy cars with these high price tags.
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Conclusion
Automakers are suffering from loss and are worried about the next worst situation for the automobile industry. Pakistan’s automotive industry contributes a large part to economical income. The stop of production can affect government income too. This is an appeal to the new government to control the unstable economical situation and don’t make it more worst to survive.
