Ashok Leyland to observe non-working days ranging from 0-12 days during November
1 min read 01 Nov 2019, 05:45 PM ISTThe commercial vehicle major on October also suspended manufacturing at its various plants for up to 15 daysAccording to a data from SIAM, passenger vehicle sales dropped by 23.69% in September making it the 11th consecutive month of decline in vehicle off-take
PremiumNew Delhi: Ashok Leyland on Friday said the board proposed to observe non-working days ranging from 0-12 days during month of November 2019.
The company's move comes in the wake of slowdown in the domestic automobile industry, forcing automobile companies to take production cuts in order to reduce inventory at dealerships.
The commercial vehicle major on October also suspended manufacturing at its various plants for up to 15 days in order to adjust production to market demand.
In a BSE filing on Friday, the company said, "We hereby inform you that in order to align production in line with the market demand for our products, the company proposes to observe non-working days ranging from 0-12 days during the month of November."
Automobile firms, including Maruti Suzuki, Hero MotoCorp and TVS Group firm Sundaram-Clayton, had announced similar non-working days to their respective manufacturing facilities in line with market demand in the recent past.
According to a data from SIAM (the Society of Indian Automobile Manufacturers), passenger vehicle sales dropped by 23.69 per cent in September making it as the 11th consecutive month of decline in vehicle off-take.
In the April-September period this fiscal, total domestic CV sales slumped by 22.95 per cent to 3,75,480 units as against 4,87,319 units in the year-ago period. Shares of Ashok Leyland ended at ₹75.90 apiece down by 1.04 per cent over the previous close on the BSE.
