Wednesday, June 29, 2022

Tata Motors announces two-day block closure from 18th

Jamshedpur : Hit by slump in the commercial vehicle market, Tata Motors, Jamshedpur Plant would take block closure from September 18 to 19.

A press communiqué issued by P J Singh, spokesperson, Tata Motors said that under the prevailing market scenario the company has to take appropriate action time to time to match the production with demand and avoid unnecessary build up of inventories in the company or with the dealers. “The market conditions are not favourable we have to take block closer rather than creating inventory.

The production of vehicles has reduced and there is no use building inventory,” said a senior functionary of the Union.Notably over five thundered ancilliary units in the industrial belt of Adityapur are facing the prospect of closure or sale of their business as a direct fall-out of the recession in the auto industry which has severely affected even majors such as Tata Motors.

Vendors and auto ancillary units in the region, totalling almost 2000, are facing perhaps their toughest challenge yet, with orders coming down to a mere trickle, even as principals such as Tata Motors have drastically cut production to tide over tough times.

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