Honda Extending Production Suspension
(photo courtesy of Honda Manufacturing of Indiana)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowHonda Motor Co. (NYSE: HMC) says it will extend its previously-announced suspension of production for all of its manufacturing facilities in the U.S. and Canada. The automaker says the temporary shutdown, which includes the Honda Manufacturing of Indiana plant in Greensburg, will continue through April 6.
In a statement issued Thursday, Honda said the extension “is in response to the continued steep decline in market demand across the automotive industry due to the impact of the COVID-19 pandemic on the economy, resulting in the inability of consumers in many markets to purchase new vehicles.”
Honda was one of several automakers in the U.S. that last week announced plans to halt production due to the COVID-19 pandemic. The company says it will continue to provide opportunities for employees to be paid, including providing full pay for some non-production days and pulling ahead vacation for others.
“As the market impact of the fast-changing COVID-19 situation continues to evolve, Honda will evaluate conditions and make additional adjustments as necessary,” the company said. “In undertaking this production adjustment, Honda is continuing to manage its business carefully through a measured approach to sales that aligns production with market demand.”
Subaru of Indiana Automotive in Lafayette on Wednesday announced it is also extending its temporary shutdown until April 6. Toyota Motor Corp. (NYSE: TM), which operates the Toyota Motor Manufacturing Indiana plant in Princeton, has also extended its shutdown.