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Thursday, 15 September 2011

Passenger vehicles to have Auto cos cut output

NEW DELHI: Slowdown pressures build up in the key segments of the Indian economy. The passenger vehicle segment, a key indicator of the mood of consumers, has seen its first production cut in the last two and a half years as companies fight weak demand.

Last year August the manufacturing of passenger vehicles-that includes cars, utility vehicles and vans has fallen to 5% to 234,093 units against 246,146 units in the same month. A reduction was last seen in February 2009 (-2 %) amid the global economic recession. This move by the companies reflects the despondent mood and belief that the current slowdown will continue for some time.Vcommindia News

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