Honda is expected to announce a 14-year production low for 2009 as its domestic output forecast is reduced to 950,000 units, down from 1.15 million vehicles, for the fiscal year ending on March 31.
Honda, as Japan’s second most popular car manufacturer, is struggling both at home and overseas amid the global economic slowdown, and will announce new and reduced production targets for the new business year on Monday when it holds a meeting with officials from its major auto-parts producers.
The last time Honda’s production fell below one million units at Japanese factories was in fiscal 1995-96, when its output hit 955,660 vehicles in the face of a company management crisis.
Global production for the brand is down 34 per cent year-on-year in January.
In the same month Toyota, Japan’s biggest car manufacturer, saw its global production fall nearly 43 per cent.