Toyota vehicle prices increased third time in the 2023
Pakistan is facing many difficulties with its economy, the lowering foreign currency reserves and deterioration in the value of local currency. On top of it, there are ever growing debts. Some of these factors and their consequences are affecting the local auto industry as well. The auto manufacturers of Pakistan first face the challenge in opening Letter of Credits (LCs) with banks, in order to import the completely knock down (CKD) vehicle kits, which are used to manufacture the vehicles. As mostly the automakers of Pakistan relying on importing the CKD kits for manufacturing the vehicles instead of localisation of Parts manufacturing. So after not being able to import any supplies, the auto manufacturers of Pakistan left without supplies, being […]