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.
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.
Source: News18