Tata Motors to close plant for 6 days

Tata Motors to close plant for 6 days
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First Published: Fri, Jan 09 2009. 02 30 PM IST
Updated: Fri, Jan 09 2009. 02 30 PM IST
Mumbai: Tata Motors Ltd, India’s leading vehicle maker, will close its commercial vehicle plant in eastern India for six days from 12 January, its latest temporary shutdown to avoid a build-up in inventory as demand weakens.
A spokesman said on Friday the plant in Jamshedpur would be closed from 12 January to 17 January.
Tata Motors has temporarily closed various plants across the country since November, citing depressed demand due to the credit crunch and lack of finance.
In December its total vehicle sales were down 47% from a year earlier, with commercial vehicle sales falling 51%.
At 0853 GMT, shares in Tata Motors were down 3.3% at Rs167 in a Mumbai market down 1%.
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First Published: Fri, Jan 09 2009. 02 30 PM IST