Honda warns it will source outside UK

Honda has warned it will source more components from euro-zone countries rather than the UK. The company, which faced a sharp fall in profits last year, said the percentage of components purchased in the UK would fall from 75% to 50% over the next two years. The strength of the yen and the weakness of […]

Honda has warned it will source more components from euro-zone countries rather than the UK. The company, which faced a sharp fall in profits last year, said the percentage of components purchased in the UK would fall from 75% to 50% over the next two years. The strength of the yen and the weakness of the euro were blamed for the company’s losses, and Honda suppliers are likely to face pressure to cut their prices by up to 30%.

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