The auto industry is severely impacted by the economic crisis as a result of inflation and price increases in nearly every sector, especially since car costs are skyrocketing. Following a decline in profitability over the previous few months, Toyota Pakistan released a report.
Toyota Pakistan reports a 42 percent decline in profits over the previous three months as a result of high prices and low purchasing power. The company’s profits for the three months ending June 30 decreased from a projected average profit of 845.8 billion yen,
as determined by 10 independent analysts, to 578.66 billion yen ($5.93 billion). In comparison to the first quarter of previous year, this represents a significant decrease.