Toyota Pakistan halted bookings for all of its vehicles, owing to the country’s deteriorating economic situation.
“Due to current uncertain and volatile market conditions, the order intake for all Toyota models has been closed until further notice,” the firm said in a statement.
Toyota Pakistan’s declaration was not surprising, especially given the increasing depreciation of the Pakistani rupee versus the US dollar. The rupee appears to have no respite in the next days due to political turmoil in the country.
Toyota Pakistan isn’t the only firm to do so; on April 4, Kia Lucky Motors halted bookings for all Kia Picanto, Kia Sportage, and locally produced Kia Stonic models. According to the message, the corporation has halted bookings for these options until further notice.
More importantly, if the situation remains unchanged, other companies will follow suit, further destabilizing the local auto sector and market. As a result, we expect that the political situation will soon settle and that this period of uncertainty will come to an end, it added.