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Tata Motors to close Pune plant for 3 days

Tata Motors to close Pune plant for 3 days
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First Published: Tue, Dec 02 2008. 11 08 AM IST
Updated: Tue, Dec 02 2008. 11 08 AM IST
Mumbai: India’s top vehicle maker Tata Motors Ltd said it will shut its commercial vehicle plant in the western city of Pune for three days from 5 December, as it tries to avoid a build-up in unsold stock amid falling sales.
The plant was also closed for six days last month, and the company has closed other plants on a short-term basis to manage inventory levels.
The Business Standard newspaper reported on Tuesday, citing unnamed sources, that the Pune plant would be shut again for three days beginning 26 December.
“That is not final. I cannot say anything about that,” a Tata Motors spokesman told Reuters.
Demand for commercial vehicles has been severely hit by a lack of vehicle financing, rising interest rates, higher input costs and weak demand.
Tata Motors’ commercial vehicle sales dropped 40% in November from a year earlier.
Shares in Tata Motors closed down 2.6% at Rs132.75 on Monday.
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First Published: Tue, Dec 02 2008. 11 08 AM IST
More Topics: Tata Motors | Closure | Plant | Pune | Corporate News |