Salem Radio Network News Monday, August 15, 2022

Business

Honda to cut output by up to 30% at Japan plants on supply snag

TOKYO (Reuters) – Honda Motor Co said it would slash production by up to 30% in Japan next month against original plans due to persistent supply chain and logistical issues.

Two lines at its Suzuka plant in western Japan will reduce production by about 10% this month and by about 30% in early August versus previous plans, Honda said late on Thursday.

Its assembly plant in Saitama prefecture, north of Tokyo, will also cut back production by about 10% early next month.

Honda has not disclosed its monthly production target.

Automakers have been unable to shake off the impact of COVID-19 lockdowns in China and a shortage of semiconductors.

Toyota Motor Corp said this week its global production for August would be about 700,000 units, down roughly 18% from its plans at the beginning of the year.

Honda adjusted its production plan in May but had said it would return to normal in early June.

(Reporting by Satoshi Sugiyama; editing by Jason Neely)

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