Honda Slashes Production In Japan Citing Supply Chain Issues: Reuters

Honda Slashes Production In Japan Citing Supply Chain Issues: Reuters
  • Honda Motor Co Ltd HMC will cut production in Japan by 30% in August as supply chain constraints remain a major hurdle, Reuters reported.
  • Two lines at the auto major’s Suzuka plant in western Japan will slash production by about 10% this month and by about 30% in early August.
  • Honda’s assembly plant in Saitama prefecture will also undergo a production cut.
  • Automakers have been struggling to tackle the semiconductor supply crunch along with economic difficulties due to the lockdown in China.
  • Price Action: HMC shares closed higher by 1.22% at $25.64 on Thursday.
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