KARACHI ; Indus Motor Company( IMC), a prominent player in Pakistan’s automotive assiduity, has achieved a significant  corner by  subscribing an agreement with Toyota Egypt to export high- quality  bus  corridor. This groundbreaking collaboration marks IMC’s entry into the global  force chain and establishes it as the first- ever  bus manufacturer from Pakistan to achieve this feat.  

In a press statement, IMC stated, “ Marking a  major turning point, Indus Motor Company( IMC) has come the first- ever  bus manufacturer to open gates to the global  force chain by  subscribing an agreement with Toyota Egypt to export high- quality products starting July 2023. ” This achievement not only elevates IMC’s position in the assiduity but also paves the way for other original automotive part manufacturers to follow suit, creating new possibilities.

Former  president of the Pakistan Association of Automotive Parts and Accessories Manufacturers( PAAPAM), Abdul Rehman Aizaz expressed his excitement, saying, “ surely a big achievement. let’s hope it's just the  morning. ” This collaboration sets a positive line for Pakistan’s automotive assiduity, enabling original manufacturers to come part of the global  force chain.

IMC plans to  transport its first consignment ofsemi-processed raw material to Toyota Egypt, marking a significant  corner for OEMs in Pakistan’s import  geography. This  cooperation aligns with the Auto Industry Development and Export Policy( AIDEP) 2021- 2026 and not only strengthens IMC’s import capabilities but also contributes to the overall development of Pakistan’s growing  bus assiduity.

Speaking to The Express Tribune,  bus expert, Mashood Ali Khan  confided the agreement,  pressing the  occasion it presents for Pakistani  corridor manufacturers to enter the global  force chain and  vend high- quality  corridor at competitive prices. He emphasised that other original  outfit manufacturers( OEMs) should follow this  illustration, as it enables them to  work Pakistan’s manufacturing  effectiveness to produce  corridor of superior quality.

The news comes at a time when Pakistan’s  bus sector has been  scuffling with  nonstop downturns. Indus Motors( INDU) reported a significant time- on- time deals decline of 58 in  financial time 2023. still, the company endured a 7 month- on- month increase in June 2023,  motioning a positive shift in  instigation.

According to PAMA, Pakistan’s auto deals clocked in at 6,000 units, over by 10 mama but down 79 YoY. Auto deals includingnon-PAMA members clocked in at 7,000 over by 10 mama, according to a Topline Securities report. This takes auto deals for FY23( as reported by PAMA) to 126,879 units down 55 YoY.

Overall, Pakistan’s auto deals have been affected by factors  similar as thenon-availability of fully Knocked Down( CKD) accoutrements , rising auto prices,  precious  bus backing, and the low purchasing power of consumers, said Sunny Kumar,  bus critic at Topline Securities.

Despite the challenges, certain manufacturers witnessed growth in deals. Honda Atlas Car( HCAR) recorded a remarkable 253 mama increase in June 2023, and PSMC saw a 2 mama growth, led by increased deals of Bolan and Wagon- R models.

Speaking at a  form held at IMC’s factory in Port Qasim, Chief Executive Ali Asghar Jamali expressed his pride in seeing the “ Make in Pakistan ” dream transcend borders. getting part of Toyota’s global  force chain affirms IMC’s commitment to position Pakistan on the world chart and strengthen the country’s frugality, he said. Jamali emphasised that the collaboration with Toyota Egypt is just the  morning and that IMC plans to further enhance its capabilities,  situating Pakistan’s  bus assiduity as a symbol of  trustability and quality encyclopedically.

also, Jamali noted that this collaboration will strengthen connectivity between Africa and Pakistan, supporting the government’s “ Look Africa ” policy and boosting trade links.