Automobile maker Honda announced on Saturday that it will stop production operations in the country by next month.
Noriyuki Takakura, Honda Cars Philippines, Inc. President, said the company will close its production plant in Sta. Rosa, Laguna in March. The company is known to produce passenger cars and models such as the BR-V and City. Takakura said closing the plant was necessary to meet customer's needs through"efficient allocation and distribution of resources."
"As such, after consideration of optimization efforts in the production operations in Asia and Oceania region, Honda decided to close the manufacturing operations of HCPI," said Takakura in aThe company said it has around 650 employees in the country but it did not detail how many may be affected by the closure. However, Takakura clarified that automobile sales and after-sales services will still continue.
HCPI has a capital investment of ₱1.9 billion. It was first established in 1990 and it started production in 1992.due to safety issues. Honda recalled 2.7 million cars - 2.4 million in the United States, and 300,000 in Canada. On the other hand, Toyota called back 3.4 million cars, 2.9 million of which are in the United States
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