Honda to resume production ‘soon’

KARACHI: Honda Atlas Cars Ltd (HACL) on Monday announced that it was preparing to resume its production thanks to a slight improvement in the accessibility of trade finance facility for the supply chain with a hope to increase the same gradually.

In a stock filing, the company did not give an exact date for resuming the production activities.

An official in HACL told Dawn that it was not clear yet when the production would be resumed, but possibly by the “end of this month.”

The local assembly of Honda vehicles remains suspended since March 9 due to restrictions on opening letters of credit for the import of completely knocked kits.

During March, the company assembled 545 units of Honda Civic/City and 30 units of Honda BR-V while there was nil production in April.

Sales of HACL during 10MFY23 plunged by 49pc to 16,485 from 32,639 units in the same period last fiscal year.