Mahindra to halt production for up to 3 days in January

MUMBAI Sat Jan 18, 2014 11:14am IST

A worker cleans a Mahindra vehicle inside the company's showroom on the outskirts of Agartala, November 26, 2012. REUTERS/Jayanta Dey/Files

A worker cleans a Mahindra vehicle inside the company's showroom on the outskirts of Agartala, November 26, 2012.

Credit: Reuters/Jayanta Dey/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Mahindra and Mahindra Ltd(MAHM.NS), India's largest utility vehicle maker, said it would halt production for up to three days this month at its automotive factories to align output with sales requirements.

"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 in a statement to the stock exchange on Saturday.

The Indian auto industry is facing a second year of falling sales as high interest rates and fuel costs keep a lid on consumer spending in a slowing economy.

(Reporting by Aradhana Aravindan; Editing by Simon Cameron-Moore)

FILED UNDER:
  • Most Popular
  • Most Shared

Insight

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage