The Pakistan-based car manufacturer Indus Motor Company Limited, a partial subsidiary of Toyota, announced June 2 that the organization would be completely shutting down its production plant in the Port Bin Qasim Industrial Zone in Karachi, Pakistan from June 3 through June 8, 2023. In an official notice sent by the company to the Pakistan Stock Exchange, Toyota Indus cited supply chain disruptions as the main cause of the shutdown.

Toyota Indus said that the company and its vendors continue to face challenges when it comes to importing raw materials as well as receiving clearance for their consignments. This disrupted the business’s supply chain, making it impossible for vendors to provide the company with raw materials and components. These insufficient inventory levels prevented the company from continuing to produce vehicles.

This is the fourth time in 2023 that Toyota Indus has had to halt vehicle production. Prior to this, the company shut down its plant from February 1 to February 14, March 24 to March 27 and May 2 to May 3, according to ARY News.

Over the last 12 months, Toyota Indus’ stock has fallen by almost 23.5%. On June 7, 2022, one share of Toyota Indus stock was valued at Rs 1227.20 ($14.87). However, one share of Toyota Indus stock is now worth Rs 938.88 ($11.38) as of 9:00 AM EDT June 6, 2023.