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  • News Desk
  • Feb 27th, 2017
  • Comments Off on Late delivery of cars: IMC starts making compensatory payments
Indus Motor Company (IMC), manufacturer and distributor of Toyota vehicles in Pakistan, has started making compensatory payment on late delivery of cars to the consumer across the country.

The government, in its Auto Policy 2016-21 had made various recommendations to protect consumer interests. The "Consumer Welfare" section of the policy recommended that automakers must make compensatory payments to customers whose vehicle delivery goes beyond 60 days. However, there is no legislature for enforcing this recommendation and therefore, such payments are still not a legal binding on automakers.

The auto policy states that the "amount of advance payment shall be limited upto 50 per cent of the total price. Price and delivery schedule, not extending two months, shall be firmed at the time of booking. Any delay over two months shall result in discount @ Kibor plus 2 per cent prevailing on the date of final delivery/settlement from the final payment, which shall help shorten delivery lead time,".

"In accordance with the narrative in the Auto Policy, the payments are made to those customers whose delivery period has crossed 60 day threshold," the sources added.

IMC is presently facing robust demand for its vehicles such as the newly introduced Toyota Fortuner SUV and the Hilux Revo pickup and its flagship product Toyota Corolla.

When contacted, Chief Executive Officer (CEO) IMC, Ali Asghar Jamali said that in view of extraordinary demand, certain Corolla variants have delivery period in excess of 60 days. IMC is compensating all such customers with late delivery penalty payments. However, he clarified that not all Corolla variants have long delivery times; certain models are available within the 60 days' timeframe.

He said IMC has always been an industry leader in terms of introducing new trends and initiatives, aimed at creating value for customers. Earlier in 2013, IMC was the first company to introduce the facility of booking vehicles on partial payment, whereby a Toyota vehicle could be booked from as low as Rs 500,000.

No other local car assembler has started compensatory payment to consumers so far despite the fact that the auto policy was notified almost a year ago.



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