Honda Atlas extends the production halt by an additional 15 day, blaming the decision primarily on the state of the nation’s economy, restrictions on the opening of Letters of Credit (LC), and suspension of international payments.
Honda Atlas extends the production halt by an additional 15 day
The corporation initially ceased operations on March 8 with a goal of starting up again by March 31. But because of persistent problems, the business has repeatedly extended this shutdown, leading to a production halt of almost two months.
According to Honda Atlas Cars Pakistan Limited (HACPL), the production shutdown would now go until May 15, 2023, an additional 15 days. According to the corporation, the economic crisis’ tight government regulations have negatively affected its supply chain.
The business indicated in a statement that it is unable to resume production and will extend its shutdown from May 1 to May 15, 2023. The business has made this expansion known to the Pakistan Stock Exchange.
A 15-day extension of the production suspension has been announced by Honda Atlas Cars Pakistan Limited (HACPL), who cited supply chain problems brought on by rigorous government regulations during the economic crisis. Production was first halted by the corporation on March 8 with a goal of starting up again by March 31. Due to persistent problems, the corporation has continually extended the shutdown, which has caused a production halt of about two months.
The business indicated in a statement that it is unable to resume production and will extend its shutdown from May 1 to May 15, 2023. The operations and financial results of the company will be impacted by this choice. The extension of the production halt is likely to have an impact on Honda automobile availability in Pakistan and could result in a fall in sales.
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