Mahindra to halt production for up to 13 days

According to a media report, the slump in sales over the past few months has forced Mahindra to shut down production for up to 13 days.

In a notification issued to the Bombay Stock Exchange (BSE), the carmaker has reportedly confirmed that production will be halted for 5-13 days at various plants during the first quarter of FY2019-2020. It is said that this is unlikely to affect availability of vehicles as there is adequate stock in the market.

Vehicle sales have tanked in the past few months and the degrowth continued in the month May 2019. Mahindra sales dropped 9% from 48,097 units in April 2018 to 43,721 units in April 2019. Overall sales in May 2019 were down 3% compared to the same month last year. The commercial vehicle segment also saw a 9% decline in sales.

Source: NDTV