MUMBAI: The Indian unit of General Motors (GM.N) expects to stop production at its plants for one day a week until the festive season, due to slow demand, its head said on Friday.
General Motors India expects the car market to pick up by the Indian festive season in October, its President and Managing Director Lowell Paddock told reporters.
General Motors, like many carmakers in India such as Ford and Renault, has seen sales slump in recent months due to high interest rates, high fuel prices and slowing economic growth in Asia's third-largest economy.
Tata Motors (TAMO.NS), India's largest truck and bus manufacturer, closed one of its factories for three days this week to align production with demand, following a similar initiative from top carmaker Maruti Suzuki (MRTI.NS). AGENCIES