In response to the prevailing economic challenges, which have resulted in production cuts, low sales, and declining purchasing power of buyers, car and bike companies in the country are introducing attractive offers and installment plans. Toyota Indus Motor Company (IMC) and Meezan Bank Limited (MBL) have come together to introduce an exclusive installment plan specifically for the Toyota Corolla and Yaris models. The plan guarantees prompt car delivery within just 10 working days, offering a convenient solution for interested customers.

To take advantage of this special offer, customers can visit any authorized Toyota dealership. However, it’s important to note that only Meezan Bank cardholders are eligible to participate in this fantastic installment plan. The offer comes with several benefits, including

  • Special discounted monthly rentals
  • Exclusive takaful rate at 1.4%
  • Toyota protection plan
  • Free 4th-year basic extended warranty
  • Priority delivery within 10 working days
  • 50% waiver in processing fees
  • 50% waiver in early termination charges for customers switching from Car Ijarah to the MBL IMC joint campaign vehicle.

Toyota’s decision to offer such an installment plan comes as the company faces its sixth production cut in 2023. Due to challenges in importing raw materials, the company announced a temporary closure of its production plant from July 21 to August 3, 2023. This move was necessary as disruptions in the supply chain caused by issues with raw material imports have resulted in insufficient inventory levels, making it difficult to sustain production activities.

The company’s secretary explained that the challenges primarily stem from difficulties in opening letters of credit (LCs) and supply problems from foreign vendors. These factors have compelled the company to halt production temporarily to address the issues and ensure a smoother production process going forward.

In light of the economic situation and production challenges faced by Toyota Indus Motor Company, the partnership with Meezan Bank and the introduction of the exclusive installment plan for Toyota Corolla and Yaris models aim to offer customers more accessible options to own these vehicles while providing prompt delivery and additional benefits to enhance the overall ownership experience.