India s top carmaker slices production as lockdowns hit sales finans.dk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finans.dk Daily Mail and Mail on Sunday newspapers.
Maruti Suzuki India Ltd. may halve its production capacity as an overwhelming surge of coronavirus infections shutters some of its sales outlets in the South Asian nation. The problem is on the “sales side because in several states there is a partial lockdown and there’s a curfew in some states and the dealers who sell the cars are having to close down,” Maruti Chairman R.C. Bhargava said in an interview with Bloomberg Television on Tuesday. “Half the sales outlets are closed at the moment.” India’s largest carmaker was producing at full capacity before it also decided to shut some plants in order to divert oxygen to hospitals last week. “We should still be able to produce at 50% to 60% capacity,” Bhargava said.
India’s top carmaker Maruti Suzuki slices production as lockdowns hit sales
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India’s top carmaker Maruti Suzuki slices production as lockdowns hit salesBy Ragini Saxena and Haslinda Amin, Bloomberg
Last Updated: May 04, 2021, 04:14 PM IST
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Maruti isn’t the only carmaker feeling the pain. Hero MotoCorp Ltd., the world’s largest producer of two-wheelers, halted operations temporarily at all of its manufacturing facilities in response to a surge in Covid cases last month, while Ashok Leyland Ltd. scaled down the operations of some of its plants, which are only expected to work for seven to 15 days in May.
Yellen says doesnât see Biden plan stoking US inflation
By Miles Weiss and Susan Decker Bloomberg,Updated May 2, 2021, 11:58 a.m.
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Janet Yellen, former chair of the US Federal Reserve, listens to a question during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Dec. 13, 2017.Andrew Harrer/Bloomberg
President Joe Bidenâs economic plan is unlikely to create inflation pressure in the US because the boost to demand will be spread over a decade, said Treasury Secretary Janet Yellen.
âI donât believe that inflation will be an issue. But if it becomes an issue, we have tools to address it,â Yellen, the former Federal Reserve chair, said Sunday on NBCâs âMeet the Press.â âItâs spread out quite evenly over eight to 10 years. So, the boost to demand is moderate,â she said of the proposed spending.
WASHINGTON — President Joe Biden’s economic plan is unlikely to create inflation pressure in the U.S. because the boost to demand will be spread over a decade, said Treasury Secretary