- Honda Motor Co Ltd (NYSE:HMC) is planning to cuts its car output by 40% at two of its Japanese plants.
- The automaker took the decision after considering the prevailing supply chain and logistical problems, Reuters reported.
- The cut raises concern about the company as it gears to make up for lost production in the first half of the year.
- Two lines at Honda’s Suzuka plant in western Japan will reduce production by about 40% in early October.
- Also Read: TSMC Chief Blames Low-End Chips For Hindering Supply Chain
- The output cut is expected to affect vehicles, including the Vezel sports utility vehicle, Stepwgn minivan, and Civic compact car.
- Price Action: HMC shares are trading higher by 0.42% at $23.90 in premarket on the last check Thursday.
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