F.P. Report
KARACHI: Honda Atlas Cars Limited (HACL) has announced to reopen its production plant this week, on Tuesday.
The car company had a terrible year in terms of production and sales. The company’s output was abysmal for two months due to supply chain issues as a result of import restrictions.
A notification issued by the company states that the Honda will soon resume production. The automaker cited a “slight improvement in the accessibility of trade financing facilities for the supply chain” as the enabler of production restart.
Honda’s production was to remain on hold from March 9 to May 15. While the new announcement promises a production restart, it does not mention the exact date.
Last month, Honda, one of Pakistan’s biggest car companies by production and sales volume, sold just 207 cars. In that bunch, the sales of the Honda Civic, the company’s flagship sedan, were zero.
The assembler of Honda-brand vehicles has been on a production break for more than two months.
In a stock filing on Monday, Honda said: “With the consistent efforts of the company and slight improvement in accessibility of trade finance facilities for the supply chain, the company is now preparing to resume its production in the weeks ahead, with the hope to increase the same gradually”.
Honda announced the suspension of production activities from March 9, which the company has continued till so far. As per the previous notice, the company was to keep its operations shut till May 15.
