Ashok Leyland to halt production for up to 15 days in October
New Delhi: After its sales witnessed a major slump in August and September, commercial vehicles major Ashok Leyland on Friday said non-working days for all its plants may range between two to 15 days in October.
Sales of commercial vehicles have been declining since July and Ashok Leyland, one of the largest manufacturers of commercial vehicles, reported a reduction of at least 50 per cent in its sales numbers in September as compared to the same period in 2018.
"We hereby inform you that to align our production in line sales, the company's plants at various locations will be observing non-working days ranging from 2-15 days during the month of October 2019," Ashok Leyland said in a statement filed with the National Stock Exchange (NSE) on Friday.
The company had been announcing non-working days since August citing continuation of sluggishness and contraction in the commercial vehicle market.
The company maintains that the proposed shutdown is part of “corrective actions” are being taken to safeguard the interests of the company.
The decision by Ashok Leyland came days aer the company released its sales figures for the month of September that reported a 50 per cent drop.
Courtesy: www.deccanherald.com
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