MUMBAI 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)
Trending On Reuters
India should avoid fixating on an inflation target given the need to ensure economic growth and financial stability, former central bank governor Duvvuri Subbarao warned on Tuesday. Full Article