Reportedly india's largest two-wheeler maker Hero MotoCorp today said that it has suspended its manufacturing facilities from August 15 till August 18 owing to holidays and the "prevailing market demand" scenario. The Indian automobile industry is experiencing a major slowdown and the sales of two-wheelers dropped 16.82 per cent to 15,11,692 units in July 2019.
"Production planning is a matter of advance monitoring of the market dynamics and prudent demand forecasting. This helps us to plan our production well in advance, thereby enabling us to stay flexible both in terms of volumes and production schedules. In line with this trend, our manufacturing facilities will be closed from August 15 to 18," Hero MotoCorp said in a regulatory filing.
"While this has been part of the annual holiday calendar on account of Independence Day, Raksha Bandhan and the weekend, it also partly reflects the prevailing market demand scenario," the company added.
Scooters India developed five prototypes of EVs but it is yet to get regulatory clearance for them New Delhi sources stated that Strategic disinvestment of public sector Scooters India Ltd (SIL) could be deferred yet again while monetization plan of its non-core land will be carried out. While the primary reason for extending sale deadline is the muted sentiment in the auto sector, the government wants the struggling company's electric vehicle (EV) business to grow. The Ministry of Heavy Industries
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