New Delhi: Home-grown auto major Mahindra & Mahindra today said it will stop production on certain days this month besides its planned annual maintenance shutdown at some of its automotive and tractor plants to adjust inventories.
"The company will be undertaking scheduled maintenance shutdown at some of its automotive and tractor plants in December 2016," Mahindra & Mahindra said in a BSE filing.
The company further said it will also "observe on need basis a few days as 'No production days' at some of its automotive and tractor plants", including the Chakan plant of its wholly-owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimise inventories during December year-end.
"The management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements," the company said.
Demonetisaion hit automobile sales in November, especially in rural areas. The company had reported 21.85 per cent decline in its total sales in November while its tractor sales tumbled 21 per cent last month.
The stock of Mahindra & Mahindra was trading at Rs 1,193.05 during the mid-day trade, down 1.1 per cent from its previous close on BSE.
