Indus Motor starts vehicle export to other Toyota affiliated companies, but ‘financial benefits minimal’

Indus Motor Company Limited (IMC), the assembler/manufacturer of Toyota-brand vehicles in Pakistan, said it has initiated the export of certain vehicles to other Toyota-affiliated companies.

The automaker shared the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.

“We are pleased to announce that Indus Motor Company Limited (IMC) has commenced an export activity of certain vehicles to other Toyota affiliated companies,” read the notice.

IMC said that to commemorate this milestone, the company is organising an export ceremony.

“This event not only highlights our dedication to expanding our business horizons but also underscores our commitment to contributing to Pakistan’s presence in the international market,” it said.

Pakistan’s Indus Motor Company starts exports to Toyota Egypt: CEO

The company said that while this initiative marks a significant step, “it is important to note that, at this initial stage, the financial benefits from this export activity are minimal”.

“The impact on our overall business remains insignificant and immaterial,” read the notice.

“Despite this, we are proud to take this pioneering step and pave the way for future export opportunities from Pakistan.

“We consider this information immaterial at this point,” it added.

In July last year, IMC started exports to Toyota Egypt, and signed an agreement in this regard.

“We have already sent our first shipment this month,” Chief Executive Ali Asghar Jamali told Business Recorder back then.

The company had also stated that the first consignment of semi-processed raw material to be shipped to Toyota Egypt will mark the “beginning of an era from the export point of view by any original equipment manufacturer (OEM) in Pakistan and plans are in place to continue in this direction”.