Honda Extends Plant Shutdown for Another Week

Honda’s production woes in Pakistan continue as the company has announced to extend the plant shutdown for another week. In its last notification, Honda informed the Pakistan Stock Exchange (PSX) that its assembly plant would be closed from 24th to 31st October 2023, now however the automaker has extended the shutdown till 7th November.

As per information, Honda is struggling with depleting inventory levels and parts shortages due to which its supply chain is severely hampered. However any change in plans will be communicated to the PSX, the notification added. The total number of NPDs (non-production days) observed by the company since the beginning of this year is getting close to 90 days.

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It is pertinent to mention that sparing Civic, Honda is offering priority deliveries for HR-V in 15 days, City in 30 days, and BR-V on an immediate basis. This means despite plant shutdowns, the company might have ample unsold stocks at its disposal which it will be able to deliver in a quick time. This suggests that even in the event of a plant shutdown, the company may have an extensive number of unsold inventory on hand that it could deliver swiftly.

Analysts anticipate that new car sales in Pakistan will continue to be subdued through the fiscal year 2024, with a further 9% drop in sales expected.

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