Mahindra to shut factories to cope with slowdown

New Delhi, Jan 19 – Utility vehicle major Mahindra & Mahindra (M&M) will stop production across its automotive plants for up to three days this month to adjust output to the slowdown in the auto market.

 

"The company, as part of aligning its production with sales requirements, would be observing no production days at the company's automotive plants for 1-3 days during the remaining period of January 2014," M&M said in a filing to the Bombay Stock Exchange.

 

Mahindra Vehicle Manufacturers Ltd, a wholly owned subsidiary, would also be observing no production days at Chakan plant for up to three days this month, the filing said. "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," it said.

 

Source: TOI