Luxury car maker, Mercedes-Benz India, today said it would not go for a single lay off in India despite registering a fall in sales, though its parent Daimler AG, is reportedly moving towards a shorter working week for 47,000 employees in Germany.
"We have 450-500 people working in India. We are not going for any lay offs here," a member of the company board of management Suhas Kadlaskar told reporters here.
Kadlaskar, however, admitted that Mercedes-Benz India has been facing 'problems' since October, but hoped that the situation would soon improve since the fundamentals of the Indian economy are very strong compared to several other countries.
"We are seeing the impact of the economic meltdown since October, but at the same time, in the first ten months of the current year, we have already exceeded the initial sales target of 3,000 cars for the year," Kadlaskar said.
During the first ten months of the current year, Mercedes-Benz India sold 3,141 cars compared to 2,491 in 2007. However, sales came down to 170-odd units in October this year.
"I also believe that the Reserve Bank will announce rate cuts soon," Kadlaskar said.
Earlier, it was reported that Diamler AG would go for a shorter working week in its four manufacturing facilities in Germany from January as aslump has hit the European market.