MERCEDES BENZ TO DOWNSIZE INDIA WORKFORCE
Article Abstract:
Mercedes Benz India Ltd (MBIL) has started restructuring its business and is reducing its staff of 482. It has shifted its employees and 26 have opted to leave with compensation. MBIL has completed its dealer development. It has 12 dealers and 14 service stations. It targets to sell target of 600-1,000 cars in 1998-99. It sold 552 E model cars during April-October 1998 against 2,343 sold in the same period of 1997. It closed down its registered offices in Delhi, Chennai and Mumbai. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CARS ON DISASTER ROUTE, DEC SALES DOWN 28%
Article Abstract:
The passenger car segment has posted 28 percent decline in sales for December 1998. The sales figure had touched the year's lowest mark at 23,762 units during the month. The factors for poor performance in the segment include decline in demand and annual closure of the Maruti plant. The other factor is the postponement of purchase plans by customers due to the launch of the Tata's small car Indica. (gs)(psr)
Comment:
The passenger car segment has posted 28 percent decline in sales for December 1998.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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