Automobile Manufacturers Grapple with Supply Shortages: Honda Plant Shutdown
Facing ongoing challenges related to inventory and parts shortages, Honda has joined the ranks of companies temporarily suspending manufacturing operations.
The company’s manufacturing plant is currently closed for one week, with the shutdown lasting from October 24 to October 31. Honda issued a statement noting that any changes to this plan would be updated accordingly.
It’s worth mentioning that Honda previously halted production for several weeks. The automotive giant ceased manufacturing operations in March, which lasted until May.
Earlier, Toyota Indus Motor Company (IMC) has also announced a production shutdown due to inventory shortages. Production operations will continue to be on hold until November 17.
Both companies will adjust their vehicle prices once production resumes. This is primarily due to a significant improvement in the US dollar to Pakistani rupee exchange rate, which has gone from Rs. 307 per US Dollar to Rs. 280. Since the auto industry heavily relies on imports, this change is likely to result in lower car prices if the exchange rate remains stable at its current level.