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Auto industry in stress: Mahindra & Mahindra to suspend production for 8-14 days

The slowdown in the automobile sector and fall in sales seems to be taking a grave turn with auto major Mahindra and Mahindra (M&M) on Friday announcing a production shutdown of 8-14 days in its various plants during the ongoing July-September quarter.

India TV Auto Desk Written by: India TV Auto Desk
New Delhi Published on: August 09, 2019 18:13 IST
Mahindra and Mahindra have announced that it will stop production for 8-14 days.
Image Source : MAHINDRA.COM

Scorpio is Mahindra's one of the highest selling car in the passenger vehicle segment. Mahindra and Mahindra have announced that it will stop production for 8-14 days.

The slowdown in the automobile sector and fall in sales seems to be taking a grave turn with auto major Mahindra and Mahindra (M&M) on Friday announcing a production shutdown of 8-14 days in its various plants during the ongoing July-September quarter.

According to the company, the decision has been taken to align its production with the sales requirements.

"The company in the auto sector, and Mahindra Vehicle Manufacturers Limited (MVML), a wholly owned subsidiary of the company, as part of aligning its production with sales requirements, would be observing 'No Production Days' ranging between 8-14 days in various plants of the company and MVML during the second quarter of the financial year 2019-2020," the company said in a regulatory filing.

It added that it does not envisage production suspension to have any impact on the availability of vehicles in the market as adequate inventory is available to fulfill the demand.

India Tv - Mahindra & Mahindra notified that production in their units across India has been stopped for next 8

Image Source : INDIA TV

Mahindra & Mahindra notified that production in their units across India has been stopped for next 8-14 days. 

The auto industry in the country is going through a slowdown for the past few months largely due to liquidity constraints as well as high GST rates and interest costs.

Auto sector representatives have already met the Finance Minister and discussed the issues they are facing.

In July, M&M's total vehicle sales fell 15 per cent on a year-on-year basis to 40,142 units.

Also Read: Maruti Suzuki, India's biggest carmaker, cuts temporary jobs as sales plunge

(IANS inputs)

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