Honda Atlas which was already observing a plant shutdown till 11th October has now announced to extend the shutdown due to lack of inventory in hand.
Honda, along with Suzuki and Toyota is observing non-production days due to the restrictions on imports of CKD parts by the government in order to save the precious foreign reserves, which is hampering the assembling of local cars. The company has notified the Pakistan Stock Exchange (PSX):
“In accordance with Clause 5.6.1 (a) of PSX Regulations, we hereby convey the following material information:
In continuation to our letter dated October 03, 2022, whereby as a result of the Government’s stringent measures of minimizing the import of CKD kits and raw materials, the Company’s supply chain had been disrupted leading to plant shutdown till October 11, 2022.
Due to continuation of the said problem, management has decided to further extend the shutdown of the plant from October 12, 2022, to October 15, 2022. Further updates, if any, in this regard will be communicated accordingly.
You may please inform the TRE Certificate holders of the Exchange accordingly.”
It is pertinent to mention that Honda Atlas has reportedly deferred its plans to launch the new HR-V in Pakistan due to supply chain reasons. Although some sources are in a state of denial, and the company is still seen running teaser campaigns on social media, it is yet to formally inform PSX regarding their definite launch plans of the new crossover in Pakistan.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com