Honda Motor Co Ltd (7267) said on Thursday it would reduce production by up to 30% in Japan in August, as supply chain and logistics-related issues persist.
Two lines at Honda’s facility in Suzuka, western Japan, are expected to cut output by nearly 10% in July and by nearly 30% in early August versus original plans.
Production at Honda’s assembly plant in Saitama prefecture will also be reduced by nearly 10% in early August, the company said.
Yet, the auto maker’s monthly production target remained undisclosed.
The shares of Honda Motor Co Ltd closed lower for a second consecutive trading session in Tokyo on Friday. It has also been the steepest single-session loss since July 12th. The stock went down 1.56% (JPY 55.0) to JPY 3,468.0, after touching an intraday low at JPY 3,461.0. The latter has been a price level not seen since July 19th (JPY 3,413.0).
The shares of Honda Motor Co have risen 7.37% so far in 2022, following another 12.25% gain in 2021.
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