For the second time in a month auto major Tata Motors will shut its commercial vehicle plant at Jamshedpur for five days, from November 25-29.
Confirming the development, company spokesperson P J Singh said in a statement that there has seen a drop in demand across the industry due to unavailability of finance and high interest rate and this calls for appropriate actions from time to time to match production with demand.
The plant had remained shut earlier for three days from November 6-8 for the same reasons. In fact, it was shut for five days as November 5 and November 9 were weekly holidays for the company.
The statement also said the decision to keep the plant shut was to avoid unnecessary build-up of inventories in the company or with the dealers.
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