Auto makers including TVS and Ceat have announced capex cuts. Ceat has announced a 33% or Rs 250-crore cut in capex to Rs 500 crore, while TVS Motor has announced a capex of Rs 300 crore down 58% from the Rs 719 crore spent last year. Others like Hero MotoCorp have announced they will defer capacity expansion and other investment plans.
– Stocks-Markets-Economic Times
