Honda Motor (TYO:7267) plans to relocate production of its hybrid Civic from Japan's Saitama plant to its Indiana facility by mid-2024, directly citing President Trump's auto tariffs as the reason for the move, according to Bloomberg News, citing a spokesperson.
The decision comes as Honda, which imports about 160,000 vehicles annually from Mexico to the US, remains particularly vulnerable to potential tariff hikes despite current uncertainty about their implementation, said the news wire.
While Honda reassures Mexican officials that its production plans there remain unchanged, the automaker joins Toyota and Nissan in navigating an increasingly volatile US trade environment for Japanese brands, added the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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