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Ashok Leyland declares 18- day holiday
Business

Ashok Leyland declares 18- day holiday

S.Murari

Truck and bus maker Ashok Layland has announced holidays upto 18 days in five plants across the country this month due to weak demand.

The company has announced this In a statutory statement made to the National Stock Exchange after its shares went into a tailspin following an earlier decision to cut working days in Ennore, Chennai and Hosur to bring down the inventory of unsold trucks and buses.

In its statement, the company has said the Ennore and Patnagar plants will each have 18 holidays, Hosur 12 and Alwar and Bhandara 10 each.

The society of Indian Auto Manufacturers(SIAM) has reported a fall in sales of vehicles, including two-wheelers, during August, compared to the same period last year. It said even the sale of two-wheelers has dropped by 15 per cent and urged the Government to cut the GST on all vehicles from 28 per cent to 18 and thereby revive sales and boost production.

In a statement , CITU state president Soundararajan has called for intervention by the Central and State Governments to save the auto sector and protect the interests of workers. He said the Government should promote exports owing to sluggish domestic demand and discourage the use of robots in manufacturing facilities.