“After the recent prize hike controversy, the automotive industry is now embracing the introduction of installment plans and special offers. This response comes as a result of the prevailing economic challenges, which have led to production cuts and declining sales volumes for cars and bikes. To counter the impact of these issues on buyers’ purchasing power, car and bike companies have taken the step to introduce attractive offers.

Toyota Indus Motor Company (IMC) and Meezan Bank Limited (MBL) have collaborated to launch an exclusive installment plan dedicated to the Toyota Corolla and Yaris models. This plan ensures quick car delivery within just 10 working days. Interested customers can avail this offer by visiting any authorized Toyota dealership. However, it’s essential to note that only Meezan Bank cardholders are eligible to take advantage of this fantastic installment plan.

The offer encompasses several benefits, such as discounted monthly rentals, an exclusive takaful rate of 1.4%, Toyota protection plan, free 4th-year basic extended warranty, priority delivery within 10 working days, 50% waiver in processing fee, and 50% waiver in early termination charges for customers who wish to switch from their existing Car Ijarah to opt for a vehicle from the proposed MBL IMC joint campaign.

Furthermore, the auto industry has experienced its sixth production cut in 2023. Toyota Indus Motor Company recently announced the temporary closure of its production plant for two weeks, starting from July 21, 2023, until August 3, 2023. This decision came after the company encountered significant challenges in importing raw materials, leading to disruptions in its supply chain.

In the past month, the company had faced a brief shutdown of its production plant due to similar challenges with raw material imports. However, the current situation has worsened, resulting in insufficient inventory levels to sustain production activities.

The company’s secretary released a statement highlighting the difficulties faced by both the company and its vendors in importing raw materials and clearing consignments. Issues with opening letters of credit (LCs) and supply problems from foreign vendors are the primary factors behind these challenges, compelling the company to temporarily halt production.”

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