Honda is the latest company to announce the closure of its manufacturing facility as a result of inventory and part shortages that auto manufacturers are still struggling with.
The business will be closing its facility from October 24 to October 31 for a whole week. Honda stated in their statement that “In case of any change in plan will be updated accordingly.”
It should be mentioned that the business had previously halted production for a period of time. The automotive giant put a temporary halt to its production in March, which lasted until May.
Toyota Indus Motor Company (IMC) had also previously announced a production halt due to a lack of stock. It will continue to cease production until November 17.
Once production is resumed, each of these companies will reveal new prices for their automobiles. This is due to a significant increase in the US dollar to Pakistani rupee exchange rate, which went from Rs. 307 per US Dollar to Rs. 280. If the exchange rate stays stable at its current level, the auto industry’s reliance on imports will most likely soon lead to reduced car costs.
