Mahindra will shut production across plants for up to 13 days - Here is why
Announcing a big decision, auto giant Mahindra & Mahindra (M&M) on Saturday said it will shut production across plants for up to 13 days
Announcing a big decision, auto giant Mahindra & Mahindra (M&M) on Saturday said it will shut production across plants for up to 13 days in the ongoing quarter to adjust to market demand. The company would be observing no production days during the first quarter ranging between 5-13 days across its automotive and farm equipment sector plants, M&M said in a regulatory filing.
"The management does not envisage any adverse impact on availability of vehicles in the market due to adequacy of vehicle stocks to serve the market requirements," the regulatory filing added.
Last month, Maruti Suzuki India (MSI) had shut production for a day at its Gurgaon and Manesar plants to manage rising inventory levels.
Auto manufacturers have been facing muted sales for quite some time now. The slowdown has forced companies to adjust their production schedules to market demand.
Overall passenger vehicle sales in India dropped over 17 per cent in April, the worst monthly fall in nearly eight years, as subdued sentiment and the ongoing liquidity crunch hit car sales.
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