Chief Executive, Indus Motor Company, Mr. Ali Asghar Jamali has been honored with the Business Leader Award 2024 by the Institute of Chartered Accountants of Pakistan (ICAP) at a recently held ceremony in Karachi. The ICAP’s Professional Excellence Awards 2024 aim to recognize members in business for their contribution, performance, and value addition within their…
Indus Motor Company (IMC) announced its financial results for the nine-month period ending March 31, 2024, which witnessed a 61% increase in profit after tax, to PKR 9.41 billion, compared to PKR 5.84 billion, for the same period last year. IMC’s net sales turnover for the nine-month period decreased to Rs. 98.23 billion, as compared to…
In a strategic move, Toyota Indus Motor Company (IMC) is set to make a substantial investment of Rs 3 billion in the local production of auto parts. This development underscores the company’s commitment to fostering domestic manufacturing capabilities and aligning with the broader objectives of promoting self-sufficiency in the automotive sector. Toyota-IMC’s decision to invest…
The Economic Coordination Committee (ECC) has granted approval for the imposition of a 25% sales tax on locally manufactured vehicles, marking a significant development in the country’s fiscal policies related to the automotive industry. This decision, aimed at enhancing revenue streams and regulating the domestic vehicle market, is poised to have substantial implications for both…
In a remarkable achievement, the Toyota Corolla Cross has emerged as the top-selling Toyota model, surpassing all other cars in the brand’s lineup for the past month. This accomplishment not only highlights the popularity of the Corolla Cross but also reflects the changing preferences of consumers in the automotive market. The Corolla Cross’s exceptional sales…
In a significant downturn for the automotive industry, car sales in December witnessed a staggering 66% plunge, marking a concerning trend that industry analysts attribute to inflation and the challenges posed by unaffordable auto financing. The data paints a grim picture for the automotive sector, revealing a substantial contraction in consumer demand for cars. The…
