Honda Cutting Production Due To Parts Shortage (HMC)

Honda Motor Co. HMC said today that it will be cutting production of the 2012 Civic, as the company is worried about a parts shortage because of the Japanese earthquake. Honda said it will cut production of the 2012 version of the car through the summer, and may go longer if need be. Honda also said that the 2012 version of the C-RV will be delayed by at least a month. The company is running short of chips, sensors and other parts made at factories in Japan. "Our goal remains to normalize overall production sometime around the end of the year," John Mendel, executive vice president of sales for American Honda, wrote in the dealer memo. At last check, shares of Honda were up 63 cents to $38.98, a gain of 1.6%.