Tata Motors to shut down plants

Tata Motors has decided to shutdown its commercial vehicle plants in Pune (from November 21-26) and Lucknow (November 10-15), while the Jamshedpur unit is already closed for three days till November 8.

However, its passenger car plant will work in a normal manner.

“As has been seen in October across the industry, unavailability of finance, coupled with high interest rates, is forcing customers to postpone purchases.

“Different segments of the automobile industry have been impacted at different levels. This will call for appropriate action from Tata Motors, from time to time, to match production with demand and avoid unnecessary build-up of inventory in the company or with the company’s dealers,” said a company statement underlining the gravity of the situation.