Honda mulls moving U.S.-bound Fit production to Japan from Mexico: sources
TOKYO (Reuters) – Honda Motor Co (7267.T) is considering shifting production of its U.S.-bound Fit subcompact cars to Japan from Mexico in a few years, partly due to a new North American trade agreement, two people familiar with the deal told Reuters. Fit cars for export to the United States are now made at Honda’s auto plant in Celaya, Mexico. The Celaya plant also makes HR-V sport utility vehicles (SUVs) for the U.S. market. A Honda spokesman said the company had not made any decisions on Fit production.
The new trilateral deal, which replaces the 1994 North American Free Trade Agreement (NAFTA), is set to raise the minimum North American content for cars to qualify for duty-free market access to 75 percent from 62.5 percent.Read more here.