Honda To Close 3 Factories

The automotive giant, Honda, is going through a rough patch currently and has decided to close down three of its factories due to poor sales performance. The closures include plants in Japan and in China. Honda sold 5.3 million vehicles in 2018. This year, it sold 3.3 million vehicles. This sales decline of almost 2 million vehicles is affecting the company’s bottom line and prompting cost cutting measures, including factory closures.