Honda Forecasts Normal U.S. Production in August, But Civic Lags
Offering a light at the end of what has been a dark tunnel since the March 11 earthquake in Japan stifled production from that nation’s automakers, Honda (NYSE:HMC) said Thursday that production volume at its North American assembly plants will return to normal in August.
While production is increasing for most models, its Civic line will continue to face obstacles. The 2012 car will continue at a reduced rate of about 50% until at least this fall due to a limited supply of key parts, according to a report by Reuters.
The civic, which was the third-best-selling car in the U.S. market last month, has been highly demanded in the U.S. amid skyrocketing oil costs. The news comes just as the typical summer sale season starts to ramp up.
Last week the automaker told dealers it would continue to run short of Civic models in the U.S. until at least July.
Honda said that as supply of parts improves, plant production will resume on a plant-by-plant, model-by-model basis.