India (MSI) increased its production in November by 4.33 per cent, after having reduced output for nine straight months due to lower demand.
The company produced a total of 141,834 units in November as against 135,946 units in the year-ago month, MSI said in a regulatory filing. Passenger vehicles' production last month stood at 139,084 units as against 134,149 units in November 2018, an increase of 3.67 per cent, it added. READ THE EXCHANGE FILING HERE
In October, the automaker had cut its production by 20.7 per cent to 1,19,337 units.
Similarly, in September the automaker reduced its production by 17.48 per cent to 1,32,199 units.
“Shifting of segment of new WagonR from Mini to Compact impacted the segmental sales volume. MSIL’s overall sales performance is slowly getting better, while the company also indicated strong improvement in enquiry level over the past 2-3 months. Company’s retail sales grew by single-digit year on year during the festive season,” analysts at Reliance Securities said in November auto sector update.