<p>Citing continuation of “sluggishness and contraction in the commercial vehicle market”, Ashok Leyland on Thursday declared a six-day holiday for its plant in Ennore near here from Saturday, spread over from last week of September to the second week of October.</p>.<p>This is the third time the heavy vehicles major is declaring non-working days.</p>.<p>The Hinduja Group-owned company made the announcement in a notice circulated among its employees on Thursday. The notice declared September 28, 30, October 1, October 8 and October 9 as “non-working days” due to continued sluggishness and contraction in the commercial vehicle market.</p>.<p>The company indicated in the notice that the shutdown was part of “corrective actions” are being taken to safeguard the interests of the company.</p>.<p>The decision by Ashok Leyland came weeks after the company released its sales figures for the month of August. August domestic sales plunged to 8,296, compared with 16,628 units sold in the same month last year. It witnessed a steep fall in the M&HCV sector with a drop of 63%.</p>.<p>Ashok Leyland has announced a total of over 55 non-working days across its plants in the country.</p>.<p>The company cited continued weak demand for its products as a reason behind calling the non-working days. The company had said its revenue fell by 9%.</p>.<p>Ashok Leyland’s reported revenue in July 2018 was Rs 6,263 crore but it has dropped to Rs 5,884 crore in July 2019.</p>
<p>Citing continuation of “sluggishness and contraction in the commercial vehicle market”, Ashok Leyland on Thursday declared a six-day holiday for its plant in Ennore near here from Saturday, spread over from last week of September to the second week of October.</p>.<p>This is the third time the heavy vehicles major is declaring non-working days.</p>.<p>The Hinduja Group-owned company made the announcement in a notice circulated among its employees on Thursday. The notice declared September 28, 30, October 1, October 8 and October 9 as “non-working days” due to continued sluggishness and contraction in the commercial vehicle market.</p>.<p>The company indicated in the notice that the shutdown was part of “corrective actions” are being taken to safeguard the interests of the company.</p>.<p>The decision by Ashok Leyland came weeks after the company released its sales figures for the month of August. August domestic sales plunged to 8,296, compared with 16,628 units sold in the same month last year. It witnessed a steep fall in the M&HCV sector with a drop of 63%.</p>.<p>Ashok Leyland has announced a total of over 55 non-working days across its plants in the country.</p>.<p>The company cited continued weak demand for its products as a reason behind calling the non-working days. The company had said its revenue fell by 9%.</p>.<p>Ashok Leyland’s reported revenue in July 2018 was Rs 6,263 crore but it has dropped to Rs 5,884 crore in July 2019.</p>
