Auto manufacturers continue to grapple with inventory and parts shortages, and Honda is the latest company to announce a shutdown of its manufacturing plant due to these issues.
The company has shut down its plant for one week from October 24 to October 31. “In case of any change in plan will be updated accordingly,” Honda said in its statement.
It should be noted that earlier the company had stopped production for several weeks. The auto giant had suspended its manufacturing operations in March and it lasted until May.
Earlier, Toyota Indus Motor Company (IMC) had also announced a production shutdown citing inventory shortages. Its production operations will remain suspended until November 17.
Both of these companies will announce new prices for their vehicles once they restart production. This is because the US dollar to Pakistani rupee exchange rate has improved considerably, going from Rs. 307/per US Dollar to Rs. 280. As the auto industry is heavily reliant on imports, this will most likely result in lower prices for cars soon, if the exchange rate remains stable at its current level.