Mahindra to close five plants for up to six daysDecember 6th, 2008 - 8:03 pm ICT by IANS
New Delhi, Dec 6 (IANS) Utility vehicle and tractor maker Mahindra and Mahindra Saturday said it will close its five manufacturing plants for three to six days this month in view of the current demand slump in the auto market. The plants in Nasik, Kandivali, Igatpuri (Maharashtra), Zaheerabad (Andhra Pradesh) and Haridwar (Uttarakhand) will work partially during the month, a company statement said.
Earlier this week, Mahindra announced its vehicle sales in November fell 41 percent to 10,955 units.
Car sales figures have been plummeting since January, leaving the auto industry in the red. Rising inventory costs and slack demand have led various auto makers to look up to the government for a possible cut in interest rates and excise duty.