Auto major Mahindra & Mahindra today said it will shut down its five manufacturing plants that produces cars, utility and commercial vehicles for 3-6 days this month.
"The manufacturing plants of the automotive sector (Nasik, Kandivli, Igatpuri, Zaheerabad and Haridwar) will work partially during the month," M&M said in a communique to the Bombay Stock Exchange.
Most of these plants would be shut down for around three to six days depending on the market demand of the products manufactured in the respective plants, it added.
The company said the ongoing economic slow down in the automotive industry was mainly on account of inadequate funding and high interest cost.
"Taking into account the slowdown in demand for the company's products, it has been decided to align the company's production plan with the expected demand for the month of December, 2008," M&M said.
