New Delhi: All industries and businesses have been negatively affected by the ongoing recession in the country. Many companies have stopped their work. The automobile industry has been greatly affected by this. Famous vehicle and tractor manufacturer Mahindra & Mahindra will shut down 17 productions. The company has taken this decision due to decreasing sales of vehicles. The company said on Friday that it is taking this step to adjust sales with production.
Earlier, in August the company said that it would stop production in its various factories for 8 to 14 days during the July-September quarter. In a communication sent to the stock market, the company said that it has decided to suspend additional production for three days during the quarter. Earlier on August 9, 2019, the company announced to stop production in various factories for 14 days. The domestic auto company also said that it would stop production in the agricultural equipment sector for one to three days by the end of this month.
The company said, due to the adequate stock of vehicles, the management does not feel that this will affect the availability of its vehicles in the market. Earlier this week, Ashoka Leyland, the flagship company of the Hinduja Group, had announced a 16-day shutdown at its various manufacturing factories due to weak demand. The automobile industry is constantly demanding relief from the government.
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