Apple Inc.
AAPL
$175.49
−3.58 (2.00%)
Toyota, Honda to halt US production Over Supply Shortages

Published by

December 5, 2024
(GMT+2)

Toyota Motor Corp. and Honda Motor Co. are halting production at plants in North America as the pandemic’s continuing effects on the global supply chain create shortages of essential components.Toyota cited an unspecified “shortage of petrochemicals” at some North American plants. The shortage would affect production at vehicle factories in Kentucky and Mexico, as well as an engine plant in Alabama. The company stated that it would periodically cut shifts or production lines of the Camry and Avalon sedans, the Tacoma pickup truck and the hybrid version of its RAV4 sport-utility vehicle to deal with the shortage. It said that for now it didn’t expect to have to furlough any workers.Honda said it would halt production at most of its US and Canadian car factories next week due to supply-chain issues including port backlogs that have delayed the delivery of parts. Honda stated a combination of port issues, a shortage of semiconductors, pandemic-oriented problems and fallout from severe winter weather across the central US led to the decision. The cold caused pipes to burst in some of its factories.

WHAT TO READ NEXT

Ready to get started?

Start trading with the full package, from state of the art platform to free tool and favorable transaction fees.