WABCO India Ltd on Tuesday said that four of its facilities will work only for four days in a week during the month of March. The development comes at a time when the auto industry is facing a weak demand.
The company, formerly known as WABCO-TVS India Ltd, is a leading supplier of technologies and services that improve the safety efficiency and connectivity of commercial vehicles in India.
The four plants are located in Ambattur, Panthnagar, Lucknow and Jamshedpur.
The commercial vehicles' (CV) industry continues to be in doldrums, with sales falling for more than one and a half years. Top CV makers’ cumulative sales dropped by nearly 35 per cent in February 2020 compared to February 2019. Industry representatives have said the situation is unlikely to improve soon as India’s economic activity is yet to pick up.
Sales of companies are under pressure due to axle load norms, liquidity crunch, goods and services tax (GST), BS-IV inventory correction and economic slowdown, among others.