Bharat Forge to reduce its production
December 26, 2008 – 6:23 pm by CarWale TeamBharat Forge, has decided to lower its production as the demand from the car manufacturers has reduced. With the economic turmoil across the globe, the demand for new cars has declined across the globe.
Automotive sales in the US market fell by approximately 40%, and the European car market had seen a downtrend of about 26% in the month of November. Most of the clients of Bharat Forge are based outside India. This has affected Bharat Forge relentlessly, as about 60% of its odd revenue comes from the American and European markets.
And now there is a reduction in production in the Indian markets as well. 80% of the company’s business is in the automotive sector. Now, the company is speeding up its diversification process in the non-automotive sector. In the last couple of years, about 80% of the company’s investment was in the non-automotive sector.
Tags: Bharat Forge, Production cut
