Honda in the UK

Honda announced the closure of their only European manufacturing plant this morning. The factory, located in Swindon in the UK produces the Civic model and employs 3,500 people. The closure is scheduled for the end of the Civic's current production cycle in 2021. Chief officer for European regional operations and president of Honda Motor Europe, Katsushi Inoue, said: “In light of the unprecedented changes that are affecting our industry, it is vital that we accelerate our electrification strategy and restructure our global operations accordingly."

Despite no mention of Brexit, the news comes at a critical time for the UK economy, with the UK's exit just around the corner and a number of large and iconic companies having already announced moves away from the country. Commenting on the announcement, the UK business secretary, Greg Clark, said it was "a devastating decision”, adding: "“This news is a particularly bitter blow to the thousands of skilled and dedicated staff who work at the factory, their families and all of those employed in the supply chain.” The closure will mark the end of 26 years of Honda production in Swindon.