Do not make any modification to your original vehicle. Modifications may adversely affect operation of the vehicle and may potentially become a safety hazard (especially in case of electrical modification)
Car Care Tips
Do not drive your vehicle on roads submerged in water as this may cause short circuiting and possible engine damage.
Car Care Tips
Do not wash the engine compartment while the engine is running, or with high pressure jets, as this may subsequently damage electrical and engine parts.
Car Care Tips
Do not use any anti theft lock on steering shaft and clutch/brake pedal as it may damage the associated part.
Car Care Tips
Do not use silicon based polish on the outside paint surface of the vehicle. These polishes can damage the paint and exterior of the vehicle.
Car Care Tips
Do not use organic substances such as benzene, gasoline, acidic or alcoholic solution, polish cleaners or other detergent on the vehicle interior. These may discolor or damage the interior parts.
Car Care Tips
Do not leave cigarette lighters, spray cans, softdrink cans or similar substances in the vehicle while it is in the sun. Doing so may cause them to leak and potentially cause a short circuit in the vehicle. Furthermore, these items may even explode due to high pressure gases contained in the canister and may cause damage to your vehicle.
Car Care Tips
Use only geniune Toyota Spare parts and accessories to ensure your vehicle gives you the best performance.
Indus Family Day
6th Expo Pakistan Exhibition
Pakistan Automotive Parts Show
18th Qcc Convention
Quarterly Results for First Quarter of FY 17-18
Release date: September 2017
The Quarterly Board Meeting of Indus Motor Company Ltd. for the first Quarter of FY 17-18 was held on October 27, 2017. The company’s financial and operating performance for the three months ended September 30, 2017 was reviewed.
The sales of Indus Motor Company for the quarter ended September 30, 2017 were 15,354 units, which is an improvement compared to figures of the same period last year which were 14,542 units. Production increased from 14,851 units in the same period last year to 14,971 units in this three month period. The company’s sales revenue increased to Rs 31.2 billion, up 21% over Rs. 25.8 billion, with the after tax profit of Rs 3.6 billion, as compared to Rs 3 billion achieved during the quarter ended September 30, 2017.
An interim cash dividend of Rs 30 per share was paid. The interim dividend paid for the same period last year was Rs 25 per share.
Mr. Ali Asghar Jamali, CEO Indus Motor Company, commenting on the occasion mentioned that demand for automobiles remained robust throughout the first quarter, stemming from the favorable macroeconomic indicators, positive consumer sentiment and the availability of consumer credit. Nationwide sales of locally assembled passenger cars (PCs) and light commercial vehicles (LCV) over the last three months increased by 27% to 60,469 units from 47,645 units sold in the first quarter of 2016-2017.
In spite of the three year age limit, there has been an increase in the import of used cars and they still continue to impede growth of the auto industry. In fact, this number has been the highest in history at 23,854 units against 12,424 units in the same period last year.
A multi billion rupee investment in plant capacity enhancement is underway which will yield increased production capacity as compared to previous years.
In the month of August 2017, the company launched Toyota Corolla Big Minor Model Change with Best-in-Class safety and luxury features.
Financial Results for the nine months and quarter ended March 31, 2017
Release date: April 2017
A meeting of the board of directors of Indus Motor Company Limited was held on April 24, 2017.
On the basis of un-audited accounts of the company for the nine months and quarter ended March 31, 2017, the company declared a profit after tax of Rs 10.2 billion as against Rs 8.8 billion achieved for the same period last year.
According to CEO Indus Motor Ali Asghar Jamali, “The combined sales of CKD and CBU for the nine months period ended March 2017, was down 4pc, to 46,216 units against 48,004 units sold in the same period last year. The reduction in production quantity was primarily due to the modification of our production facility for the introduction of two completely new models of the Fortuner and Hilux Revo, and some challenges faced in operational efficiency due to prolonged and sustained overtime and some electricity breakdowns. We were, however, able to maintain our market share at 27pc.”
Based on these results, the Board of Directors (BoD) declared the third interim dividend of Rs 30 per share for the quarter ended March 2017 which, on cumulative basis, added up to Rs 80 per share compared to Rs 60 per share for the same period last year.
The company’s net sales revenues for the nine months ended March 2017 increased by 6pc to Rs 84.3 billion, as compared to Rs 79.7 billion for the same period last year.
IMC to Sponsor Pakistan Auto Show 2017
Release date: 1st March
Indus Motor Company (IMC), the manufacturer and distributor of Toyota vehicles announced today that it will be a diamond sponsor for the Pakistan Auto Show 2017 being held at Expo Center Karachi from 3rd March 2017.
The Pakistan Auto Show 2017 is the premier trade exhibition for the rapidly developing automotive market in Pakistan. The show is the country’s largest gathering of leading OEMs, auto parts manufacturers and service providers from all over the country and draws over 20,000 visitors every year who wants to interact with their most favorite automotive brands operating in the country.
Mr. Ali Asghar Jamali, CEO IMC, while commenting on the Company’s participation in Pakistan Auto Show mentioned that,
“IMC has always played a leading role in the development of local auto industry by bringing cutting edge technologies and knowledge in Pakistan through technical assistance agreements with global part makers. The process has not only resulted in creating thousands of highly skilled jobs for the talented youth of the country, it has also contributed immensely for the economic development of the nation. I am excited for us to be formally supporting Pakistan Auto Show 2017 – which is all about showcasing the capability of our local auto industry.
He further added that, post introduction of the new Auto Policy, many new players are set to enter Pakistan Market which is exciting news as this spells more choices for customer and a good opportunity for local parts manufacturers to expand and invest in new capacity and capability.
IMC will have its Diamond Booth in Hall 6 this year where it will be showcasing the recently unveiled Toyota Fortuner SUV and the all new Hilux Revo Pickup which has received an overwhelming response from the local market. IMC would also put on display a Cut Body of the locally manufactured Corolla to highlight the extent of localization achieved in its flagship product which is at par with the international standards. IMC will also be educating the exhibition visitors on identifying genuine versus counterfeit auto parts as special consumer welfare initiative which will help its customers enjoy the lasting peace of mind that Toyota offers.
IMC would like to encourage all prospecting customers to visit its booth at Pakistan Auto Show 2017 with their families to enjoy the feel of experiencing their most aspiring vehicles and get educated on maintaining their vehicles by the company’s representatives.
IMC Announces Half Yearly Results
Release date: 24th Feb
Karachi: Indus Motor Company Limited (IMC) held its Board of Directors (BoD) Meeting on 24 February 2017. The company’s financial and operating performance for the 6 month period ending December 31, 2016 was reviewed.
The demand for Toyota vehicles remained robust during the period. However, the sales of Toyota vehicles stood at 28,833 units, down 7% from the 30,896 units sold during the same period last year. Various factors, such as plant maintenance and upgradation, pre-launch production related activities for the new Hilux and transport disruptions limited the company’s ability to meet the demand. In order to offset the loss in production, the Company continued to operate its manufacturing facility at full capacity, working daily overtime hours and off Saturdays. The total production at IMC stood at 28,996 units, down 5% from 30,474 units produced in the corresponding period last year.
Improvements in turnover from trading segments resulted in a marginal increase in the profit after Tax by 3.3% to Rs. 6.1 billion, against Rs. 5.9 billion achieved for the half year ended December 2015. Based on the financial performance, the BoD declared an interim dividend of RS.25 per share (250%) for the half year ended December 31, 2016, in addition to the First Interim Dividend paid at Rs. 25 per share.
While commenting on the near term outlook, the BoD stressed on the need to revisit the valuation of used vehicles and auto parts by the government, as the concessionary duties and valuations put the local industry at disadvantage. The board also supported the request made by certain existing automakers to the government for facilitation of their future expansion and investment projects, citing investments as being beneficial to the country, either by a new entrant or an existing player.
Ministry of Industries & Production’s Federal Secretary visits IMC
Release date: 9th Feb
Karachi: Mr. Khizar Hayat Gondal, Federal Secretary of Industries & Production visited Indus Motor Company (IMC) on Wednesday 8th February. Accompanied by Mr. Tariq Ejaz Chaudhry, CEO Engineering Development Board (EDB), he visited the production facilities of the company and was also briefed about the various aspects of the company and the challenges faced by the sector.
The Federal Secretary took keen interest in the Company’s operations and commended the company’s efforts to manufacturing world class vehicles in Pakistan utilizing domestic workforce and numerous locally manufactured parts. He appreciated the support and technical assistance provided by the Japanese company Toyota in establishing a manufacturing facility in Pakistan and facilitating technology transfer from Japan to Pakistan. Commenting on the impact of Auto industry in the general industrial development of Pakistan, he lauded the industry for supporting countless small manufacturers and vendors through technology transfer, skill development and knowledge sharing.
While briefing the visiting delegation on IMC and its various initiatives, Chairman IMC, Mr. Ali Habib explained that through localization, the domestic auto industry purchases almost 140 million rupees worth of parts daily from local vendors, thereby saving foreign exchanges and creating countless job opportunities for the people of Pakistan. While optimistic about the government’s vision for the auto sector outlined in the new auto policy, he mentioned that the policy should encourage local manufacturing of parts as it will generate employment and provide for a sustainable value chain in the sector. Commenting on the various challenges faced by industries in general and the auto sector in particular, he mentioned that due to mis declaration and discrepancies in valuation mechanisms for imported auto parts, the local parts manufacturers are facing immense challenges. He further mentioned that the recent Free Trade Agreements being pursued by the government should be focused on improving the access of these regional markets for Pakistan goods, rather than making local production unviable.
IMC to Sponsor Cholistan Jeep Rally 2017
Pakistan’s premier motorsports event, The Cholistan Desert Jeep Rally is commencing from 9th February, with an aim to promote tourism in the vast and unique desert of Cholistan besides inter-provincial harmony and integration.
The rally is being organized by Tourism Development Corporation of Punjab. Motorsport enthusiasts from Pakistan and abroad are expected to take part in the event.
Indus Motor Company (IMC) is sponsoring the event. Speaking of the collaboration with Punjab Tourism Development Corporation for the Rally, the CEO of IMC Mr. Ali Asghar Jamali said “IMC aspires to promote motorsports in Pakistan and through such events, and Cholistan Jeep Rally offers a unique opportunity to the Motorsports enthusiasts of the country to showcase their talent. Toyota vehicles are known across the globe as being durable and reliable on various terrains and are therefore a preferred choice for many rally drivers”.
The Rally also features a Toyota Fun Drive activity, where people will get an opportunity to experience the off road capabilities of the newly introduced Hilux Revo.
PAK China Economic Corridor
Pakistan to be among top 25 economies, Ahsan Iqbal
Karachi, September 07: Minister of Planning, Development & National Reforms Prof. Ahsan Iqbal has said that development of road networks, motorways and especially PAK China Economic Corridor will help auto and transportation industry in a great way. It will help Pakistan to be the part of top 25 economies of the world and auto sector will have key role in it, we have to strive together to make Pakistan, symbol of quality,
Addressing Indus Motor Company (IMC) 22nd QCC Convention, themed ‘Kaizen –Way of life’. Inaugurating the convention, Mr. Ahsan Iqbal appreciated the efforts of IMC in contributing to the development of the local industry in Pakistan.
Appreciating the QCC convention and its role in promoting process improvements in manufacturing and management, he said that, “I am pleased to learn that IMC holds this convention annually and quality is the center of all processes. Skill development programs at IMC are commendable’.
He said that Government is specifically focusing on the growth of private sector and auto manufacturers are most critical part of it. All stakeholders must sit together to come up with a road map for auto industry to join the league of top automobile producers in the world, he concluded.
Mr. Parvez Ghias, CEO IMC, explained that ‘Company shares its experiences within and outside the industry and aims to promote a culture where merit, creativity and search for better ways are constantly strived for. This mind-set is required within all our institutions so that we can move on the path of growth and prosperity,’ he added.
A total of 12 teams presented their efforts in improving their respective areas based on the philosophy of KAIZEN (continuous Improvement). The winner of the 22nd QCC Convention 2015 will represent IMC in the Global QC Convention in Japan.
The convention was graced by a large audience consisting of Senior Management of IMC, House of Habib (HoH), IMC suppliers, eminent businessmen from engineering industry, government officials and participating teams. Commissioner Karachi Shoaib Ahmad Siddiqui also attend the event as guest of honor.
Indus Motor Company lauds Government’s efforts to boost auto industry
Karachi, 23 September: ‘Improving economic environment, driven by the government efforts provided much needed boost to the auto industry, IMC in particular posted healthy growth in FY 2014-15 and added Rs. 32bn in national exchequer which makes 1.2% of overall tax collection.’ This was stated by Chief Operating Officer IMC, Mr. Ali Jamali while talking to a group of journalists here on Wednesday.
Reduction in interest rates has increased car financing, positively impacting the sales of automobiles in the country, he added. Currently auto financing is contributing around 30% of vehicle sales, he added.
‘The agri and Taxi schemes are good initiatives of the government which also posed a good impact on the local auto industry sales. We are hopeful that other OEMs products such as IMC’s Hilux will also be included in such schemes.
‘The company mainly benefited from strong demand generated by the new 11th generation Toyota Corolla launched in July 2014 as the company outperformed and stayed well ahead of competition throughout the year clocking in 51,398 units,’ he added.
Jamali said that the company’s profits have increased due to the surge in demand of automobiles as additional 22,917 units were sold in the reported year.
It is to be noted that IMC has announced a net profit after tax of Rs 9.1 billion for Financial Year 2014-15 against the Rs 3.9 billion posted for previous fiscal.
He said that the combined sales of Toyota CKD and CBU vehicles set a new annual record of 57,387 units for the company, and the record sales volume achieved during the year resulted in a 32% market share for FY 2014-15.
COO IMC said in order to fulfil market demand and reduce delivery time cycle the company operated its manufacturing facilities at 100% capacity throughout the year undertaking overtime and working off Saturdays to minimize the impact of time lag on customers. We are making 220 Corollas everyday. Average delivery time is reduced from 3 to 4 months to 1.5 to 2 months.
Despite huge demand It has been 1.5 years, we haven’t increased the price of newly launched Corolla. In March 2014 Dollar was at 96 which is now at 104. We are absorbing this increase and not passing it on to consumer.
We have generated 500 employment opportunities at IMC only. The impact is 10 times more on allied industries and vendors.
We are anticipating that upcoming auto policy will be based on two principles, Long term vision and Made in Pakistan. These two factors will not only boost the economy but impact the economy by creating cycles of employment and contribution to GDP,’ he added.
‘It is a good omen that many international players are looking forward to enter Pakistani market and by formulating industry friendly policies, the government can soon put the country in the league of leading automakers in the world,’ Jamali said.
Government must realize that import policy is damaging local industry and hampering new investments. Huge number of imported used cars are the reason that no new investor is coming in general and in small cars segment in particular.
IMC Holds 23rd Dealer Conference
Karachi, 19 September: Indus Motor Company (IMC) held its 23rd Annual Dealer Conference recently at a local hotel in Karachi Mr. Shinichi Yasui, Chief Engineer Toyota Corolla and Product Planning Group was the Chief Guest. The Dealer Conference, themed as “Ultimate Excitement” was attended by the Dealership CEOs, Guests from Toyota Motor Corporation, Toyota Tsusho Corporation, Toyota Motor Asia Pacific, senior management from House of Habib, business partners and the IMC Management Team.
Speaking on the occasion, Mr. Yasui presented the design concept behind the immensely popular new Toyota Corolla, explaining that the new corolla is designed to meet the ever evolving expectations of the customers. He expressed his satisfaction over the overwhelming response to the new corolla that Pakistani customers had given and thanked IMC and the Dealers for making Toyota a household brand of Pakistan.
Mr. Ali S. Habib, Chairman, IMC, in his address, mentioned that the fiscal year 2013-14 was yet another challenging period for the domestic auto industry as the demand for locally manufactured vehicles declined as compared to the previous year. The company acted innovatively and took various measures to excite the market such as introducing value added variants that enabled the company to sustain itself in such testing times. He added that although challenges ahead are great, however, these too shall pass and with collective efforts, the IMC family has managed to excite customers yet again with the new model. Also for the future, the outlook remains challenging with persisting inflationary pressures, energy shortages and absence of long-term policy will continue to cause anxiety to businesses.
To recognize the dealers’ efforts, various awards were presented during the conference to the best dealerships in the three regions. The Customer Relation award was won by Toyota Central Motors, the Service award by Toyota Mardan Motors whereas The Parts Sales award went to Toyota Southern Motors.
The Nationwide Sales Award and Best of the Best category Award was bagged by Toyota GT Motors.
IMC holds its 21st Annual QCC Convention
Karachi, 10 September: Advisor to Chief Minister Sindh for Finance & Energy, Mr. Murad Ali Shah has said that merit, creativity and search for better ways as practiced by IMC are absolutely essential elements for our national progress as well and highlighted some of the initiatives under taken by the Government in this regards, he was the chief guest at Indus Motor Company’s (IMC) 21st Annual QCC (Quality Control Circle) Convention under the theme “Achieving Together – SELF RELIANCE”.
While inaugurating the convention he appreciated the efforts of IMC for regularly holding the QCC convention and expressed satisfaction at the participation from the industry to promote Kaizen initiatives for continuous improvement.
The event was aimed at recognizing the spirit of “Continuous Improvement” prevalent at IMC and its business partners. The convention was attended by around 500 people comprising of IMC Suppliers, Senior Management of IMC and House of Habib (HoH), eminent business personalities from the automobile and engineering industry, educational institutions, government officials and the participating IMC teams
Meanwhile, a total of 12 teams presented their efforts in improving their respective areas based on the philosophy of KAIZEN (continuous Improvement). The winner of the 21st QCC Convention 2014 will represent Indus Motor Company Limited in the Global QC Convention scheduled in October 2014 in Japan.
The Production Control And Logistics Department bagged the Bronze Medal whereas the Silver Medal was presented to the to Paint shop. The coveted Gold Medal was won by the Maintenance shop and the winning team will represent IMC at a Global Quality competition in Japan later this year.
Mr. Ali Asghar Jamali, the Chief Operating Officer of IMC, congratulated the Indus Family members on their achievement and appreciated the efforts made by the employees and suppliers for contributing to the success of Toyota In Pakistan and emphasized on the need to continue the spirit of Kaizen in meeting future challenges.
Earlier, Sr. Director Technical, Mr. Tariq Ahmed Khan, gave a brief overview of various Kaizen activities in IMC and emphasized the importance of Kaizen and teamwork spirit among the team Members. He added that keeping in view of market demand; IMC has increased its production and is constantly making efforts to enhance the production even further.
IMC’s 19th Annual Kaizen Convention
‘Industries should improve processes through Kaizen-like IMC’
KARACHI: The auto industry, especially Indus Motor Company (IMC), has done a commendable job to improve its business processes through Kaizen initiatives and activities and this practice should spread to other industries paving the way for accelerated economic development of our country.
This was stated by Parliamentary Secretary for Industries MNA Pir Haider Ali Shah at the 19th Annual Kaizen Convention recently organised by Indus Motor Company (IMC) at a local hotel.
He said that growth and excellence lies in the adoption of Quality Control Circle (QCC) approach and Kaizen, which have enabled IMC to improve its development processes taking it to new heights. He appreciated the efforts of IMC for contribution in the development of the automobile industry in Pakistan as a prime source of job creation, skill development and technology transfer. “I have greater appreciation of industry and the investment made and its contribution to national interest,” he added.
The parliamentary secretary mentioned that the country needs consistent long-term policies for further expansion of auto sector whereas the policy of used cars should be reviewed for the betterment of local industry and its contribution to national economy.
On the occasion, Sindh Minister of Industries and Commerce Rauf Siddiqui expressed his vision to promote local industry at a faster pace for generation of skilled employments as against maximum facilitation to the companies.
He added that the government should rethink its policy on used cars as it does not serve the national interest and continue to cause loss of foreign exchange, tax generation and business activities. He appreciated IMC and joint venture partnership with Toyota Motor Corporation and all its employees for their efforts and announced ‘performance certificates’ from government of Sindh for winners.
Earlier, IMC CEO Parvez Ghias in his welcome address highlighted the positive role of Kaizen at IMC and its dealer and vendor family. He mentioned, “Throughout, we were challenged to provide innovative responses and solutions to the economic and social dilemmas facing the country and ensure uninterrupted supplies in the value chain affected by natural calamities at home and abroad.”
In addition, we were impacted by high inflationary pressures driving up the cost of production and coupled with a liberalised used car import policy of the government of Pakistan. Through Kaizen in our systems, we are offsetting some of the impact of these challenges and that is why we have put so much emphasis on this concept, he added
However, he expressed hope that the government will work closely with the auto industry and develop stable policies to encourage growth of the local auto industry which made healthy contribution to the national exchequer, created thousands of jobs, enabled technology transfer for localisation, provided affordable mobility to people and businesses and above all, contributed heavily to economic prosperity of the country.
The Indus Kaizen Convention is an annual feature with the aim of recognising the efforts of the Kaizen teams of Indus, its vendors and dealers. This year 12 presentations were made by various Kaizen teams including those from IMC vendors and dealers.
The first prize in the IMC competition went to the team, ‘evaluators’ from Assembly Shop for improvement in quality and enhanced production in chassis line. In the dealers category, Toyota Central Motors team, got the first prize for their Kaizen activities in enhancing customer satisfaction while in the vendors category, Procon Engineering team got the first prize.
The convention was attended by eminent personalities from the automobile and engineering industry, educational institutions, guests from House of Habib, IMC vendors, dealers, business partners, and IMC team. staff report
IMC Acknowledges Vendors’ support
Complete safety and quality assurance top priority, Nobuhiro Yamamoto EVP Toyota Motor Asia Pacific
Karachi, 4th September, 2015: Indus Motor Company (IMC) held its Annual Suppliers Convention in Karachi under the theme “Next step to success | Kamyabi Ka Agla Qadam”. Mr. Nobuhiro Yamamoto Executive Vice President Toyota Motor Asia Pacific was the chief guest. The convention was attended by management of Toyota Motor Corporation, House of Habib, IMC’s Suppliers, representatives from the automobile industry and the management of IMC. The Supplier Convention is an annual feature with the aim of recognizing the efforts of the IMC vendors/ suppliers.
Mr. Yamamoto applauded the local suppliers’ role for their continuous support in running the production smoothly and their efforts to enhance the quality of locally manufacturing parts.He emphasized that ‘complete safety and quality assurance is our top priority action for the upcoming years’.
Mr. Ali S.Habib, Chairman IMC congratulated the IMC family on remarkable achievements made during the year, particularly the success of 11th generation Toyota Corolla in Pakistan. ‘Our new generation Corolla has set new standards of quality, safety and luxury. The response from customers is overwhelming as 51,398 units were sold last year. With the support of our suppliers, we are striving very hard to live up to this benchmark,’ he added.
‘IMC recognizes that for sustainable business growth, constructive policies by the government and healthy rapport with the vendors and suppliers is essential. Without this, it would not be possible to accomplish our goals, business vision, and expectations’ said Mr. Ali S Habib.
While reiterating IMC’s commitment to strengthening the supplier base through technical support, he recognized ‘Loads Limited’ as the top performing vendor for the year 2014-15 on achieving lowest defect rate, collaborative assistance to other suppliers, timely developments and quality delivery. Rapport
IMC ANNOUNCES RS. 9.1BN PROFIT AFTER TAX
Karachi, August 28: The Board of Directors of Indus Motor Company Ltd, met on Friday 28th August to review the company’s financial and operating performance for the year ended June 30. IMC announced a net profit after tax of Rs 9.1 billion for FY 2014-15against the Rs 3.9billion posted for previous fiscal year.
The improving economic environment, driven by the government efforts provided much needed boost to the entire industry, enabling the company to post record gross sales revenue of Rs 116 billion, up 70% compared to Rs 69 billion for the same period last year. The surge in the after tax profitability is mainly attributable to increased sales volume of additional 22,917 units, improvement in margins after years of erosion and Kaizen initiatives aimed at improving operational efficiency, work processes, strategic sourcing of supplies and cost reduction in general.
The combined sales of Toyota CKD and CBU vehicles set a new annual record of 57,387 units for the company. The record sales volume achieved during the year resulted in a 32% market share for FY 2014-15.
Benefiting from strong demand generated by the new 11th generation Toyota Corolla launched in July 2014, the company outperformed and stayed well ahead of competition throughout the year, clocking in 51,398 units. . The combined sales of Hilux Light Commercial Vehicle grew 7%, to 4,823 units compared to 4,520 units sold during the same period last year. The demand for Fortuner showed partial recovery upon withdrawal of 10% FED, selling 772 units, up 98%compared to 390 units sold during the same period last year.
In order to fulfill market demand and reduce delivery time cycle, the company operated its manufacturing facilities at full capacity throughout the year undertaking overtime and working off Saturdays to minimize the impact of time lag on customers. This enabled the company to achieve a new annual production record of 56,888 units during the FY 2014-15.
The company achieved a return on Equity of 38% for the FY 2014-15. Based on the results, the Board of Directors announced a final dividend of Rs 40. per share, making the total payout of Rs80.per share. Last year, Rs 29.50 per share was paid to the shareholders.
In FY 2014-15 the Company contributed a sum of Rs 32 billion to the national exchequer, which amounts about 1.2% of the total revenue collection by the Government of Pakistan during the year. In the 25 years since the incorporation, IMC’s contribution to the national exchequer stands at an impressive number of nearly Rs 250 billion.
IMC welcomes PAC’s initiative
KARACHI: The Indus Motor Company (IMC) spokesperson has welcomed the initiative of a sub-committee of Public Accounts Committee (PAC) to consult the stakeholders regarding the challenges faced by auto industry.
The spokesman said that the meeting was in fact held in a very cordial environment and all the stakeholders in the industry vowed to work jointly to formulate a long-term policy for achieving volumetric growth for the economic benefit of the country.
He said that the issue of malpractices in the industry was raised in the meeting but the auto industry representatives instantly clarified the issue in the meeting and PAC and other stakeholders were satisfied with their argument.
While clarifying the disparity between the sales and capacity figures, the spokesman said that to keep the customer satisfaction the top-most priority, IMC has gone extra mile by working extra hours and improving the production process, which resulted in timely delivery of the orders.
The meeting was chaired by Hamid Yar Hiraj, while Minister for Production Riaz Hussain Pirzada was also present. The representatives from Ministry of Industries included its Secretary Shafqat Naghmi, Joint Secretary Abdul Sattar Khokhar, Engineering Development Board Chief Executive Officer Aitizaz Niazi and his team. The auto industry included senior executives from Metro Motorcycles, Pakistan Association of Automotive Parts Accessories Manufacturers (PAPAAM), Atlas Honda Motorcycles, Atlas Honda Cars, and Indus Motor.
IMC Resident Director Yasir Niazi who represented IMC in the meeting said that he welcomes the time taken out by the PAC members to hold such an important meeting with the auto sector to assure all the stakeholders that the government is a facilitator and that it does not intend to harm the flourishing industry or disturb the equilibrium of employment opportunities that it generates for the people of Pakistan.
He particularly hailed the suggestion of the sub-committee chairman who suggested that auto sector work jointly with the ministries of industries, commerce and planning to deliver the best value proposition keeping the interest of the customer in mind.
The sub-committee chairman acknowledged that PAC is holding this meeting to alleviate the pressure of the consumer through providing the auto industry with recommendations of formulating a good policy for future. The chairman also acknowledged that there are vested interest amongst the legislators but there is a need for the government to be fair in the policies to deliver best value to the consumer.
Niazi greeted the announcement of the sub-committee chairman that the government needs to work with the auto industry to abolish the menace of ‘own money’. A working paper on the efforts to curtail ‘own money’ is to be devised in consultation with the auto industry to fight this phenomena and win the battle for a failure on this count should be considered as the failure of both the government and the industry.
IMC Launches Toyota SURE Program
Karachi, June 15: The customers of used cars can now purchase used Toyota cars with 6 months company warranty, under the recently launched Toyota SURE program which focuses on providing used car buyers and sellers an experience at par with new car buyers. Toyota SURE is in line with Toyota’s global initiative of providing value added facilities to the customers.
Indus Motor Company (IMC), the authorized distributor of Toyota and Daihatsu vehicles in Pakistan, has initiated Toyota SURE program to facilitate sales, purchase and exchange of used cars.
Toyota SURE accepts all kind of cars, even non‐Toyota in case of exchange, while trade‐in customers are offered the facility to trade in their old vehicles with a brand new one. The facility is initially available in Karachi, Faisalabad, and Lahore with expansion plans covering the nationwide dealership network.
“Toyota Sure offers a range of benefits that no private seller is presently offering. It comes with the backing of the world’s most trusted automotive brand – Toyota and provides value added services whether a customer wishes to sell a used car, trade in a used car with a new one or purchase a certified used car. Toyota Sure Dealerships are the one stop destination to be. At Toyota Sure, all vehicles pass through a rigorous 203 checkpoints inspection by Toyota Certified Experts/Sales Consultants. Such extensive analysis ensures that the best price is assessed for any particular vehicle. Financing options are also available for purchase of used cars”, said Ali Asghar Jamali, Chief operating officer IMC.
He further added that “All certified cars come with a nationwide 6 months/10,000 KMs warranty on engine and transmission. Toyota Sure offers comprehensive after sales support to ensure the ultimate peace of mind to the customers”.
This initiative of IMC is to facilitate Used Car buyers who are presently resorting to purchasing from non OEM sellers that do little to ensure transparency in pricing and product quality, leaving customers to make intuition based decisions.
Indus Motor Announces Record Results
Karachi, April 30, 2015: The Board of Directors of Indus Motor Company Limited, met yesterday to review the financial results for the quarter and nine months ended March 31, 2015.
Strong demand for the new Corolla emanating from improving macroeconomic indicators and law and order situation contributed to robust performance and all time high record production, sales and earnings for the quarter and year to date, said the company statement.
The combined (CKD & CBU) sales for the quarter at 17,344 units and nine months to March 2015 at 40,425 units are up 49% and 50% respectively compared to 11,631 units and 27,031 units sold in the corresponding periods last year enabled the company to enhance the market share from 22% to 27%.
In order to fulfill the growing market demand and reduce delivery time cycle for customers, the company operated its manufacturing facilities at full capacity to achieve production of 16,918 units for the quarter and 40,139 units for the nine months to March 2015, up 50% and 54%, compared to 11,253 units and 26,107 units produced for the same period last year.
The sales revenue for the quarter grew 55% to Rs 29.1 billion compared to Rs 18.7 billion, while the profit after tax was Rs 3.3 billion as against Rs 0.9 billion achieved for the same period last year. On the basis of nine months to March 2015, the revenue at Rs 68.2 billion was up 52% compared to Rs 44.7 billion and resultant profit after tax of Rs 6.4 billion versus Rs 2.3 billion for the corresponding period last year.
An additional sales volume of 13,394 units over the nine months period last year, improved margins, higher income stream from treasury operations and tighter control on fixed costs contributed to the enhanced profitability. During the period, the company’s contribution to the government exchequer of Rs 23 billion was also a new record.
Based on the results, the company declared a second interim dividend of Rs 20 per share for the nine months ended March 2015, which on cumulative basis adds up to Rs 40 per share.
The company recognizes efforts of the government to improve law and order situation which augers well for the economy to realize its potential and expects the fourth quarter to remain strong.
Auto industry to lead Pakistan’s economic revival
Karachi April 2, 2015 – Indus Motor announced that a major event was staged for the print and the electronic media today at its plant facilities in Port Qasim today. The occasion was part of company’s Silver Jubilee celebration and highlighted IMC’s commitment to actively engage important stakeholders on its contribution over the last 25 years and challenges facing the auto industry going forward.
Welcoming the guests, Mr. Ali S. Habib, Chairman Indus Motor said that automotive manufacturing is a high profile industry that generates enormous revenue, employs millions of people and is proxy for a nation’s manufacturing prowess and economic influence, and therefore regarded as the ‘Mother of all Industries’ due to the value chain it creates. In USA 5% of the employed population is involved in automotive and allied industries, while in Japan and South Korea about every 8th person is connected to this industry. Pakistan is set to become the 4th largest populated country by 2030 of 240 million and this presents a huge potential for growth of mobility in the country and equally the opportunity of providing employment and skilled jobs for the growing youth.
We are fortunate to have Toyota the #1 automaker globally to be our joint venture partner. Over the years this partnership has transformed Indus Motor to become a formidable player in the domestic auto industry creating thousands of jobs, enabling transfer of technology like pioneering robotics and high tech parts manufacturing and above all the human skills development through application of Toyota Production System and exposure of hundreds of our people to Toyota plants overseas.
From a humble beginning in 1989 with production capacity of 20 cars a day and a workforce of 500 employees, we have today grown into a company of over 2,700 employees and production capacity of 230 cars a day. Our daily sourcing of parts from local manufacturers exceeds Rs 110 million and the contribution to exchequer since inception exceeds Rs 224 billion.
Speaking on the occasion, the Chairman said that the automotive industry is one of the most documented sectors of the economy and amongst the highest taxpayers in the country. GOP must quickly firm up the new auto policy and decide how it wishes to pursue the mobilization growth i.e. through manufacturing or trading and look at the examples of neighboring countries like India, Thailand and Indonesia who have nurtured their industries until the threshold volumes were achieved to gain competitiveness. These countries have restrictions on import of used cars and have used tariff and non-tariff barriers to ensure domestic production is not damaged irretrievably. No auto manufacturing country permits liberal imports of used cars as Pakistan and here our government would do well to tighten this policy if the industry is to flourish.
With regards to quality, our vehicles like in the rest of the world are branded as ‘Made in Toyota’ and it means they are subject to the same rigorous quality standards as those manufactured by Toyota globally.
He said, despite years of challenges posed by the political and economic operating environment its impressive what the industry has achieved.
Data was presented showing that net of taxes the local Corolla is amongst the most competitively priced in the world. The Chairman emphasized that this competitiveness level has been achieved on account of the level of localization undertaken over all these years.
Over 60 leading journalists from across the country toured the manufacturing facilities and enjoyed hands on driving experience of Toyota Corolla, Hilux Vigo and Fortuner SUV vehicles on the purpose built test track and off road environment. Our businesses partners representing dealership and parts suppliers also graced the occasion.
Pakistan Auto Parts Show 2015 Opens Today
Karachi, March 05: The Pakistan Auto Parts Show (PAPS) is being held at Expo center Karachi from 6th to 8th March at the Expo Center Karachi. A premier industry event, held once in two years, the exhibition brings together several manufacturers, particularly from the Auto and Auto parts manufacturing sector at a grand event where the industry showcases its products, potentials and capabilities.
The exhibition is expected to attract substantial number of visitors, including those from overseas markets, enhancing the local industry’s access to global export markets.
Indus Motor Company Limited, (IMC), the manufacturer and distributor of Toyota vehicles and is a regular participant at the event the diamond sponsor. IMC has pursued an aggressive localization program, supporting the local parts manufacturers and contributing towards the development of local manufacturing sector.
Mr. Parvez Ghias, the Chief Executive Officer of IMC said, ‘Pakistan has immense potential to offer in auto manufacturing and become an exporting hub for Asia. Holding such a show offers an opportunity to the local auto parts manufacturers and OEMs to explore newer avenues for the future business growth”.
He added that IMC has always worked closely with local parts manufactures and in that spirit is at the forefront supporting PAPS to enable projection of the local industry at a global scale so that Pakistan’s capability and potential can be showcased at such a high profile event.
Mr. Ghias said that despite the operating challenges the local auto industry has delivered impressive performance during the past decade and has continuously enhanced localization thus generating direct and indirect employment for thousands of people and bringing the latest technology into the country.
He emphasized that the current level of localization in the industry serves as a strong proof of the determination and commitment OEMs have to the indigenization process. IMC alone has developed 60 vendors, arranged 34 technical assistance agreements and a joint venture for the transfer of technology.
IMC Announces Interim Dividend of Rs. 20 per Share
Karachi, February 23: Indus Motor Company Limited (IMC), the manufacturer and distributor of Toyota vehicles in Pakistan posted a 50% growth in sales revenue in the half year ending December 2014. Higher sales volumes, improved margins on account of enhanced localization in the new model Toyota Corolla, increase in treasury income and tighter control on fixed costs resulted in sales revenues of Rs 39.1 billion compared to Rs 26.1 billion for the same period last year. The profit after tax for the period is Rs 3.1 billion as compared to Rs 1.4 billion achieved same period last year.
In order to fulfill the growing market demand and reduce delivery time cycle, the Company operated its manufacturing facilities at full capacity. It was working daily in overtime hours and off Saturdays to achieve production of 23,221 units, which is up 56% over 14,854 units produced during six month to December 2013.
During the first half of fiscal Year 2014-15, IMC’s sales increased by 50% to 23,081 units against 15,400 units sold last year for the same period. The all new 11th Generation Corolla, launched in July, made a powerful impact on the market and the response was overwhelming, generating sales of 20,729 units, up 61% over the same period last year. The new Corolla also features new, additionally localized parts.
The GOP budget announcement to remove the punitive 10% FED on vehicles above 1800cc also provided respite to the Toyota Fortuner SUV’s volumes, and they grew by 59% to 361 units for the Fiscal Year 2014-15.
Board of Directors declared an interim dividend of Rs 20 per share for the half year ended December 31, 2014 compared to an amount of Rs 6 per share for half year ended December 31, 2013.
IMC’s Half Yearly Board meeting was attended by the board of directors, including the newly appointed Independent Director Mr. Azam Faruque, who was appointed earlier in compliance with the Code of Corporate Governance 2012.
IMC Encourage Young Engineers and Entrepreneurs, Parvez Ghias
Karachi, January 14: Indus Motor Company (IMC) has sponsored a group of Pakistani students who would showcase two cars they designed for a global environment event, being held in Philippines from February 25 to March 03.
20 students from National University of Science and Technology (NUST) who designed two vehicles (urban type and prototype) will take part in a competition where the vehicle covering the maximum distance, using least amount of energy, would stand out as a winner.
‘The Prototype category is a concept car that is developed keeping in view the futuristic needs of fuel-efficiency. This three-wheeled vehicle has to be designed keeping a prime focus on drag reduction and maximum fuel efficiency,’ said Hassam Ahmed, team manager of Prototype concept car.
And the Urban category is a conventional four-wheeled vehicle that can match the attributes of a modern-day vehicle with an enhanced efficiency of fuel, informed Mohammad Usama Mumtaz, team manager of Urban type concept car.
Modified 70 cc gasoline engine, carbon fiber body, GPS based solution, safety sensors, proximity sensors and an interactive interface to communicate with the driver are some of the key features of this eco car.
‘We feel it is our responsibility to support this wonderful effort of the country’s youth. This is simply a matter of honor for Indus Motor Company to enable students to represent Pakistan at a prestigious international forum,’ said Parvez Ghias, CEO of IMC.
Parvez Ghias added that engineering projects, especially of international stature, are particularly difficult to pursue in a struggling economy and we must encourage our young engineers and entrepreneurs to come forward and lead the way.
‘When it comes to research and innovation, Pakistani students are equally capable of coming up with solutions needed for an ever-changing world. Hence, we are enabling them to turn their ideas into realities, it would for sure help our automobile industry in future,’ added Parvez Ghias.