A three-day block closure in Tata Motors Jamshedpur plant here has begun from today. The closure, which will be observed from August 29-31, was aimed to prevent unnecessary build up of inventory in the company as well as at dealers end, sources said.
At the backdrop of the worst year for the heavy commercial vehicle (HCV) segment in the recent past companies from Tata Motors to Ashok Leyland have had to cut operating capacity and in some cases bring down the number of working days in a week as well.
Nirmal Bang has come out with its report on 'automobile sales - March 2012'. According to the research firm, in the two-wheeler segment, Hero MotoCorp and Bajaj Auto reported sales growth of 2.4% & 9% YoY, respectively, while TVS Motor Company reported a decline of 4.5% YoY.
Pune-based Force Motors is selling stake in the joint venture company MAN Force Trucks to its partner MAN Truck and Bus AG for Euro 150 million.
Mahindra Navistar Automotives Limited (MNAL), a joint venture between Mahindra & Mahindra group and US-based Navistar, today said it would expand its domestic footprint over the next 3-4 years.