Honda extends production targets cuts
Motor trades
29th October 2008
Car manufacturing giant Honda has said it intends to cut a further 10,000 vehicles from its production target for the next 12 months.
In previous projections, the firm claimed it intended to cut 22,000 cars from its annual output.
Chief executive of Renault-Nissan Carlos Ghan said that, due to the current economic climate, the firm was entering unknown territory, reports the Times.
"This is not going to be a short-term crisis. I don't think we'll get out next year, or even in 2010," added Mr Ghan.
By the end of the year, Honda hopes to have built around 228,000 cars - including the Civic and CR-V four-wheel drive models - at its base in Swindon.
In a further blow to the motor trade, the head of European Automobile Manufacturers Association has said he expects the European car industry to see a further drop in sales in the fourth quarter, reports Reuters.
