: WABCO, a supplier of brake control
systems and advanced technologies to improve safety and efficiency of commercial vehicles, on Tuesday said it planned to adjust production at its facilities due to poor demand.
The company said the factories located across the counry would work for four days a week this month.
"In view of the weak demand and based on customer schedules, the company makes the changes in its production schedule", WBACO India Ltd said in a BSE filing.
Accordingly, the plants at Ambattur (Chennai), Pantnagar (Uttarakhand), Lucknow (Uttar Pradesh) and Jamshedpur (Jharkhand) would work for four days a week in March 2020 with Fridays being considered as leave, it said.
Shares of the company ended at Rs 68.50 apiece up by 1.02 per cent over previous close in BSE.
According to Society of Indian Automobile Manufacturers (SIAM), the automobile industry recorded its worst-ever sales decline in two decades in 2019, with an unprecedented slowdown hampering vehicle off-take across segments.
As per SIAM, all vehicle segments reported degrowth in 2019 as low consumer sentiments, weak rural demand and economic slowdown took a toll on demand.
Overall wholesale of vehicles in 2019, including passenger vehicles, two-wheelers and commercial vehicles, saw a decline of 13.77 per cent in 2019 at 2.30 lakh units as against 2,67 lakh units in 2018.
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