The American automobile manufacturer’s Indian arm, General Motors India (GMI) has announced that the production halts would continue during the festival season to prevent inventory pile up. The company will halt production for one day every week till the end of the festival season, stated Mr. Lowell Paddock President and Managing Director General Motors India.
General Motors India is among the companies which have decided to adjust their production with respect to the demand in the automobile market. The industry has been witnessing a slowdown in the car sales and the auto companies are compelled to reduce production to match the demand.
Mr. R Balendran Vice President for Corporate Strategy GMI stated that the company doesn’t expect much respite in terms of car sales in the festival season. He stated that there is very little expectation for the market to improve by any significant margin during the season.
Due to a significant slowdown in car sales in the Indian automobile industry, many carmakers are in the process of reducing their production to avoid excess inventory.