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Honda Closes its Plant Till the End of the Month

The persistent economic problems are having a negative impact on the vehicle industry Honda.

Honda recently made the terrible decision to halt vehicle production for more than 20 days.

The prolonged suspension is attributed to a disruption in the supply chain brought on by the economy’s decline, as well as limitations on the import of CKD and raw materials, according to the official notification.

Here are the specifics:

Honda Closes its Plant Till the End of the Month

Since July 2022, production has been reduced and supplies have been delayed in the auto industry due to import restrictions. Several automakers also permit cancellation of bookings and full refunds with a markup.

Due to its reliance on imports, the auto industry is also feeling the consequences of the rupee’s devaluation. Due to limits placed on Letters of Credit (LC) by the State Bank of Pakistan, imports are being delayed and inventory rates are rising (SBP).

We can only hope that the present production halt does not result in the announcement of another price increase.

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