The auto industry hasn’t overcome the issues related to inventory and parts shortages so far. As a result, Honda has extended its production shutdown by one more week.
In a notification, the company stated that it has decided to further extend the shutdown of its plant from November 1 to November 7, 2023. “Any change in plan will be updated accordingly,” the notification added.
Earlier this month, Honda announced to close its production for a week, from October 24 to October 31. It should be noted that Pak Suzuki and Toyota had also decided to halt their production operations.
On the other hand, Honda recently slashed its prices by up to Rs. 300,000 to pass on the benefit of the rupee’s appreciation against the US dollar to the consumers.
The price of its most expensive car, Civic RS1.5L, has been reduced by Rs.300,000 while its cheapest car, City MT 1.2L, saw a reduction of Rs. 100,000.
Recently, there were reports that the import licenses of Suzuki, Honda, and Toyota have been canceled. However, the reports were denied by the Ministry of Industries, clarifying that it was just the issue of revalidation of the import quota.
Their licence for production was already revoked. Even if they decide to start again that will be illegal.