The Honda CR-V is shutting down in the U.A.E. but the American auto industry is not yet finished dealing with the issue, the company’s chief executive officer told CNNMoney.
“There are no immediate plans for the company to halt production in the United States,” Honda CEO Takashi Iwata said Tuesday.
“We will continue to be engaged with the U:A.
Iwata said Honda has begun discussions with its U.K. partner, Jaguar Land Rover, and will hold meetings with regulators in the future. “
However, as we continue to work with our partners and regulators, we will continue exploring options to ensure a smooth transition in the coming weeks.”
Iwata said Honda has begun discussions with its U.K. partner, Jaguar Land Rover, and will hold meetings with regulators in the future.
I will continue working with the United Kingdom government and other regulatory bodies to ensure the safety and quality of our products and products supply chain, Iwata added.
The automaker is expected to resume production at its new plant in Sunderland, England, sometime in the fourth quarter of 2019, the Associated Press reported.
The decision to shut down the U-Haul service center, which provides transportation for about 3 million vehicles, came about after Honda reported a record $1.6 billion profit in the second quarter, which was also better than expected.
Honda’s U-haul service center will be shut down until 2019, and the company has no plans to reopen it, Iwatasaid.
The automaking giant’s shares plunged by more than 40% after the news was announced.
Honda is one of the biggest manufacturers in the world.
The company has been under pressure from regulators for years over the safety of its vehicles.