NEW DELHI: IN the wake of prolonged slowdown in automobile demand, home-grown auto major Mahindra & Mahindra (M&M) on Friday announced extending its ‘no production days’ during the second quarter of the current financial year.
“We wish to inform you that the company, as part of aligning its production with sales requirements, would he observing ‘no production days’ during the second quarter of the FY2019-20 in various plants, ” it said.
Shutdown in M&M automotive sector now ranges from 8 to 17 days i.e. additional three days compared to the disclosure made on August 9, 2019 and farm equipment sector ranges between 1 to 3 days.
“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 firm added.
The automobile sector in the country is going through one of its worst phases ever with no signs of recovery in near future. A large number of manufacturers had recently announced production cut to reduce their inventory level.