The rising yen, which hit a 10-year high against the Euro last Tuesday while also getting stronger against US dollar, has forced Honda to rethink its production strategy.
Honda CEO Takanobu Ito told Japanese daily Asahi that the company plans to compensate by cutting its domestic production by half in the next decade. The move is part of Honda’s plan to sell 80-90% of its vehicles produced globally in local markets so as to be less vulnerable to currency fluctuations.
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