Honda Intends To Slash Car Production In October

Honda Motor Co Ltd (NYSE:HMC) plans to slash car output at two of its Japanese plants in October.
Two lines at Honda's Suzuka plant in western Japan will cut production by about 20% in October, while its assembly plant in Saitama prefecture will decrease production plans by about 40%, Reuters reported.
Also Read: Toyota Cuts October Production As Supply Chain Woes Continue
The automaker had earlier intended to cut production due to the prevailing supply chain and logistical problems.
The output cut is expected to affect vehicles, including the Vezel sports utility vehicle, Stepwgn minivan, and Civic compact car.
Price Action: HMC shares closed lower by 1.31% at $22.64 on Wednesday.
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