Mahindra to halt production for up to 3 days in January
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)
- Tweet this
- Share this
- Digg this
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew was presumed to have crashed off the Vietnamese coast on Saturday, and European officials said two people on board were using false identities. Full Article