Day: June 14, 2020

Covid-19: Automakers set aggressive cost cutting targets, reduce capex

Automakers have set aggressive value chopping targets and declared cuts in money expenditure as they look for to stay rewarding amid lower output and uncertain demand from customers outlook. Vehicle plants across the nation are jogging at normal 30-fifty per cent capacity utilisation stages as makers continue on to grapple with offer chain and manpower connected difficulties. Government mandated lesser number of operating hrs and social distancing are also weighing on over-all costs.

A inadequate operating leverage which arrived on the back again of reduce volumes and superior costs singed earnings of organizations in the March quarter of fiscal 2020-21

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