Tata Motors To Halt Production At Jamshedpur For 5 Days
The Economic meltdown is taking its toll on the automotive market. India's largest vehicle maker, Tata Motors Ltd has announced shutting down of its commercial vehicle plant in Jamshedpur for five days from November 25-29 owing to declined demand.
The Company had earlier shut down the plant from 6 to 8 Nov, with 5 and 9 Nov being weekly company holidays.
Tata Motors stated, "Across the industry, it has been seen in the month of October 2008 that unavailability of finance, coupled with high interest rates is forcing customers to postpone purchases."
Further more, it added, "The sales slowdown witnessed would call for appropriate action from Tata Motors from time to time to match the production with demand and avoid unnecessary build-up of inventories in the company or with its dealers."
It said that its plant in Pune in the western state of Maharashtra, will be shut Nov. 21-26, while its plant in Lucknow would be shut during Nov 10-15.