Jamshedpur, Nov 25 (UNI) Amidst the ongoing financial slowdown and production slump, Tata Motors, the largest automobile manufacturer of the country, today stopped production at its Jamshedpur commercial vehicle plant.
The production will resume on December 1 after five day official block closure (November 25-29) and a general holiday on November 30.
This is the fourth such closure of the plant, which manufactures trucks, trippers, trailors and other multi axel vehicles, in almost a decade and second in just one month as it was closed recently between November 5-9 with three days announced block closure, one adjusted leave and a general holiday.
Company spokespersons said unavailability of finance across the industry, coupled with high interest rates, was forcing the customers to postpone purchases, which had called for appropriate action to match the production with demand and avoid unnecessary build up of inventories in the company or with the dealers.
The steep downturn in production, which has dropped from almost 500 units per day in March to around 150 recently, has also caused closure of hundreds of small and medium-sized ancillaries of the plant situated in nearby Adityapur industrial area.
The auto giant has already disengaged almost all of its around 3,000 non-permanent workers due to the production slump.
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