Mahindra to halt production for up to 3 days this month

Tags: Companies
Mahindra & Mahindra (M&M) will stop manufacturing activities for up to three days this month across its automotive

lants in the country to adjust production with sales needs.

"The company, as part of aligning its production with sales requirements, would be observing no production days at the company's automotive plants for 1 to 3 days during the remaining period of January 2014," M&M said in a filing to the BSE.

Mahindra Vehicle Manufacturers Ltd, a wholly-owned subsidiary, would also be observing no production days at Chakan plant for up to three days this month, it added.

"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 company said.

Reeling under a prolonged demand slump due to the economic slowdown, annual car sales in India have declined for the first time in 11 years in 2013, posting a 9.59 per cent dip.

M&M saw its sales drop by 26.93 per cent to 15,881 units in December 2013. Last year also the company had shut down its tractor plants at Jaipur and Rudrapur for five days and two days, respectively, due to inventory pile up amidst falling sales.

It had also stopped production at its automotive plants for up to eight days in July and announced in August that it would stop production at its factories in the following months.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Indian-promoted global corporations must follow accounting best practices

    The international advisory board (IAB) of capital market regulator Securities and Exchange Board of India (Sebi) has suggested that separate governanc

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Cost of education must be controlled

In India, we pay very little attention to the cost ...

Rajgopal Nidamboor

Focus to keep your daily qualms at bay

Philosophers and scientists have, for long, compared the human brain ...

Gautam Gupta

What we can learn from the French fashion scene

It was a pleasure and a treat to experience one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture