M&M to stop production for up to 6 days in forthcoming months
Hit by the slowdown, auto major Mahindra & Mahindra on Thursday said it will stop production for up to six days in the forthcoming months at its automotive plants to adjust output to demand in the market.
The company had on July 11 announced that it would stop production at its automotive plants for a period ranging from 1 to 8 days during the remaining period of the month.
"...As part of aligning its production with sales requirements, (the company) would be observing no production days at its automotive plants for a period ranging from 0-6 days in the forthcoming months," Mahindra & Mahindra (M&M) said in a filing to the BSE.
Mahindra Vehicle Manufacturers Ltd, a wholly owned subsidiary of the company ,would also be observing similar no production days for its plant at Chakan, it added.
Apart from the Chakan unit (Maharashtra), the company manufactures its automobiles at plants including in Nashik and Haridwar. The announcement comes in the wake of declining sales the company has witnessed. M&M today reported 21.17 per cent decrease in its total sales at 37,096 units in July, 2013 as compared to 47,059 units in the same month last year.
The company on Thursday reported 21.17 per cent decrease in its total sales at 37,096 units in July, 2013.
The company had sold 47,059 units in the same month in 2012, Mahindra & Mahindra (M&M) said.