WABCO India to adjust production at plants due to poor demand

Chennai, Mar 3 (): WABCO, a supplier of brake controlsystems and advanced technologies to improve safety andefficiency of commercial vehicles, on Tuesday said it plannedto adjust production at its facilities due to poor demand. The company said the factories located across the counrywould work for four days a week this month. "In view of the weak demand and based on customerschedules, the company makes the changes in its productionschedule", WBACO India Ltd said in a BSE filing. Accordingly, the plants at Ambattur (Chennai), Pantnagar(Uttarakhand), Lucknow (Uttar Pradesh) and Jamshedpur(Jharkhand) would work for four days a week in March 2020 withFridays being considered as leave, it said. Shares of the company ended at Rs 68.50 apiece up by 1.02per cent over previous close in BSE. According to Society of Indian Automobile Manufacturers(SIAM), the automobile industry recorded its worst-ever salesdecline in two decades in 2019, with an unprecedented slowdownhampering vehicle off-take across segments. As per SIAM, all vehicle segments reported degrowth in2019 as low consumer sentiments, weak rural demand andeconomic slowdown took a toll on demand. Overall wholesale of vehicles in 2019, including passengervehicles, two-wheelers and commercial vehicles, saw a declineof 13.77 per cent in 2019 at 2.30 lakh units as against2,67 lakh units in 2018. VIJNVG NVG