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Mahindra to shut production for three days this month

Snapshot: The auto industry is facing a second year of falling sales due to high interest rates and fuel costs

Mahindra and Mahindra, India's largest utility car maker, said that it would stop the production of its vehicles for three days at its automotive factories to align output with sales requirements.

"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 company said in a statement to the stock exchange on Saturday.

 

This is the second year that the Indian auto industry is facing a slowdown due to higher interest rates and the rising fuel prices.

At its Chakan plant in Pune, the company would observe no production for three days. The annual sales of the company has also declined by up to 10 percent in 11 years, for the first time.

Mahindra and Mahindra also registered a decline of its ales by up to 27 per cent with 15,881 units sold in December 2013. Not only this, the company had shut down its tractor plant in Jaipur and Rudrapur, last year due to huge demands, hence, sales declined.

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