Home grown auto major, M&M (Mahindra & Mahindra), as a part of aligning its production with sales requirements would be observing no production days at the company’s facilities for up to three days during the remaining period of May, 2014. The company further said that one of its completely owned subsidiary Mahindra Vehicle Manufacturers Limited’s facility at Chakan would also be observing no production days. The management doesn’t envisage any adverse impact on the availability of the vehicles in the market because of adequacy of vehicle stocks to serve the market requirements.
Mahindra & Mahindra had reported 12% decline in total sales at 36,274 units in April. Its domestic sales stood at 34,107 units as against 39,902 units in the same month of previous year, down 15%. Earlier in January, 2014, the automaker had undertaken a similar no production days for three months to adjust production to market demand. Currently, Mahindra & Mahindra has manufacturing plants at Chakan (Near Pune), Haridwar and Nashik for its automotive sector.
Shares of the company were being quoted lower by 0.03% at Rs. 1135.1 in midday trade on the Bombay Stock Exchange.
