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Honda Extends Plant Shutdown Yet Again

Honda Atlas Cars Limited (HACL) is in dire straits due to the letter of credit (LC) issue that is eating the entire industry alive.

In a recent worrying development, Honda Atlas has extended the production shutdown to 15 more days. An official notification reads:

Honda Atlas’ production shutdown was to continue from 9th March till the 31st. However, earlier this month, the company extended the shutdown from April 1 to 15. The latest notice states that this shutdown will continue from April 16 to 30.

This implies that Honda will have observed a car assembly shutdown in Pakistan for almost 2 months.

This will likely take a heavy toll on Honda’s sales and revenue. The company had already seen a huge decline in sales in March, primarily due to poor City and HR-V sales, which are usually the company’s star players.

Also, the company wasn’t able to sell a single Civic in Pakistan, which is unheard of. The latest production suspension implies worse sales next month.

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