The slowdown in sales has not only caused Toyota to cut production but even Hyundai Motor India plans to cut production by up to a quarter from Monday due to falling demand. Hyundai India is considering raising prices by up to 2 percent to offset the higher cost of raw materials.
“We have decided to go in for a two-shift production instead of three shifts now as demand has declined,” H.S. Lheem told reporters after opening a new showroom in the city.
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December 26, 2008
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