Honda to cut back in the U.K.

|About: Honda Motor Co., Ltd. (HMC)|By:, SA News Editor

Honda (HMC +0.4%) will cut production in the U.K. due to weak demand.

The automaker will reduce its workforce at a factory in England by 10% as it goes from three shifts a day to two.

For the first two months of the year, Honda has seen sales drop 10% Y/Y and market share slip 10 bps.