Daily reviews

17.03.2021

Honda suspends production in the US and Canada

Honda suspends production in the US and Canada

Most of the plants temporarily suspending production during the week of March 22

Stocks impacted: Honda (7267)

Honda said it will temporarily suspend some production next week at all US and Canadian plants because of supply chain issues. In particular, the Japanese automaker cited the impact from COVID-19, congestion at various ports, the microchip shortage, and severe winter weather over the past several weeks. Most of the plants temporarily suspending production during the week of March 22. However, even when production is suspended Honda workers will still be able to work at the impacted plants. Of note, the shutdown does not currently include Mexico plants. At the same time, a spokesman for the company noted that the timing and length of production adjustments could change. Honda stocks finished 1.35% lower on Wednesday.

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