Honda Motor Recovery Gathering Pace in Japan
Japan’s Honda Motor says the recovery in auto parts supply is gathering pace and the company is likely to return to normal production earlier than previously expected.
Japan’s No.2 automaker said last month it expected vehicle production to stay at about half its normal levels through the end of June, and to fully return to pre-earthquake levels by the end of this year.
However, Honda now says that recovery schedule would likely be brought forward with its supply situation looking better that previously feared.
Honda’s announcement follows similar upbeat outlooks recently given by rivals Toyota and Nissan. Toyota said production would gradually pick up starting in June, while Nissan announced it expects a full recovery by October.
Honda also says it plans to announce its earnings forecast for the current fiscal year before a shareholder meeting scheduled for June 23.