FAST FIVE: Deja Vu All Over Again: China's Auto Industry Is Once Again Shuttering Some Operations Due To Lockdowns
Honda has shut down operations in Wuhan for the time being due to “limitations around movement” in the area, the report says.
The company also suspended operations at a lawnmower engine plant in Chongqing.
Yamaha has also been hit by the new Covid lockdowns, partially suspending operations at a motorcycle plant in Chongqing.
It has also shut down two of five production lines at its factory in Changchun and has no date for resuming operations.
The result is that Goldman Sachs's Effective Lockdown Index has increased in recent weeks, despite Beijing's new order to reduce the need for mass testing and citywide shutdowns.” Tyler Durden Tue, 11/29/2022 – 23:05.