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.
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.
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