Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Associate PartnerAssociate Partner
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Ashok Leyland to Shut Down Production for Up to 15 Days in October as Sales Slump Continues

The Chennai-based company, India's second largest commercial vehicle-maker, had also shut down five plants last month amid falling demand for its products.

News18.com

Updated:October 4, 2019, 7:41 PM IST
facebookTwitterskypewhatsapp
Ashok Leyland to Shut Down Production for Up to 15 Days in October as Sales Slump Continues
Image For Representation . (News18)

New Delhi: Hinduja Group-owned Ashok Leyland on Friday announced the firm would observe non-working days in plants at various locations for 2-15 days in October.

According to a release filed with the exchanges, the move was undertaken to align their production in line with the company's sales amid a slowdown in sales. The auto industry is reeling under a severe crisis with top companies reporting major dip in sales.

The Chennai-based company, India's second largest commercial vehicle-maker, had also shut down five plants last month amid falling demand for its products. The firm’s Pantnagar plant situated in Uttarakhand had 18 non-working days, while Ennore plant had 16 such days.

The auto sector slowdown has hit Ashok Leyland hard as it sold lower-than-expected 8,780 units in September, a sharp drop of 55 percent compared to the 19,374 vehicles sold in the same month in 2018.

Others like Tata Motors also registered a 45 percent decline in year-on-year (YoY) commercial vehicle sales numbers while Eicher Motors recorded a 43 percent decline in sales in September.

Other major automakers such as Tata Motors, Mahindra and Mahindra (M&M), Maruti Suzuki and others too have resorted to temporarily shutting down their respective plants as an inventory correction measure in the last couple of months.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 643.55 -16.19
Yes Bank 51.80 0.78
Bajaj Finance 4,034.15 -2.50
Reliance 1,414.15 -0.16
Indiabulls Hsg 218.00 -5.71
Company Price Change %Gain
Infosys 643.30 -16.21
Yes Bank 51.80 0.78
Indiabulls Hsg 218.20 -5.75
HDFC 2,115.95 0.98
Reliance 1,414.25 -0.07
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,810.75 3.15
ICICI Bank 451.15 3.05
BPCL 534.10 2.65
Titan Company 1,329.45 2.22
Cipla 453.90 2.20
Company Price Change %Gain
ICICI Bank 451.15 3.06
Coal India 208.80 1.38
Sun Pharma 405.80 1.10
Bajaj Auto 3,120.00 1.04
HUL 2,127.60 1.02
Top Losers
Company Price Change %Gain
Infosys 643.55 -16.19
Tata Motors 131.75 -3.73
Bajaj Finserv 8,008.85 -3.11
HCL Tech 1,064.45 -2.83
Bajaj Finance 4,034.15 -2.50
Company Price Change %Gain
Infosys 643.30 -16.21
Tata Motors 131.90 -3.51
Bharti Airtel 370.85 -3.24
HCL Tech 1,064.45 -2.87
Bajaj Finance 4,031.95 -2.56

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results