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Honda cuts production targets

Honda cuts production targets
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Japanese car manufacturer Honda has announced it will extend production cuts to next year.

Previously, the company said it would reduce its output of vehicles by 22,000, but has now extended this by another 10,000.

This year, Honda plans to produce around 228,000 cars at its plant in Swindon, including the Civic and CR-V four-wheel drive models, reports the Times.

Honda's move follows that of other car manufacturers as they attempt to deal with the fallout of the global financial slowdown.

Carlos Ghan, chief executive of Renault-Nissan, yesterday (October 29th) said the industry was entering unknown territory.

"This is not going to be a short-term crisis. I don't think we'll get out next year, or even in 2010."

In some positive news for the sector, the UK government has outlined proposals to inject £100 million of funding into developing environmentally friendly cars, reports Energy Efficiency News.

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