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Auto companies cut output targets as steel supplies fall short
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The production schedules for the ongoing fiscal Q4 are being revised downward by 15-20%, which could potentially mean a loss of over 1.5 lakh units in the January to March quarter for the industry.
Agencies
While this affects two-wheeler and commercial vehicle segments as well, the impact may not be as pronounced as in passenger vehicles, as the demand-supply scenario is much more relaxed.
Mumbai | New Delhi: At a time when the inventory at automobile dealerships is at a record low, a significant shortage of steel supplies and higher price of the key raw material have led to a sharp revision in the production schedules for the fourth quarter at leading carmakers.