INSUBCONTINENT EXCLUSIVE:
Friday they would cut production at some plants in response to slowing demand that industry executives say has driven the sector into one of
its worst downturns.Tata Motors, which had previously flagged a "challenging external environment", said it closed some blocks at its Pune
automaker by revenue, had last month posted a bigger-than-expected quarterly loss due to weak conditions at home and problems at its British
luxury car unit.M-M said on Friday its automotive segment, which makes passenger and commercial vehicles and spare parts, would cut
sector has triggered massive job cuts, with initial estimates suggesting that automakers, parts manufacturers and dealers have laid off
about 3,50,000 workers since April, a senior industry source told Reuters earlier this week.The crisis has also hit smaller auto parts
makers like Jamna Auto Industries
The company, whose customers include Tata Motors, General Motors Co and Toyota Motor Corp, said on Thursday it might shut all its nine
plants in August due to weak demand."In view of the weak customer schedule and high inventory, the company has made changes in production
schedule at all its plants
The plants may not run or partially run on all working days in August," Jamna Auto said.Jamna Auto's shares fell as much as 8.5 per cent
on Friday.Auto components manufacturers Bosch and Wabco India have already trimmed production amid the demand slump.Get Breaking news, live
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