Share

Honda execs taking pay cuts

Tokyo - Honda Motor Co said on Thursday its executives would take salary cuts for three months after the fifth recall in a year of the new Fit hybrid in Japan.

Honda chief executive Takanobu Ito and other executives will cut their monthly pay by 10 to 20% for three months to take responsibility for the repeated repairs in Japan, the carmaker said in a statement.

Honda issued a recall for 425 825 cars on Thursday because of problems with an ignition coil and a power-supply circuit. The recall covers some Fit and Vezel hybrids and some gasoline-version Fit and N-WGN small cars.

A spokesperson for Honda said it had not received any reports of accidents or injuries caused by any of the defects.

Japan's third-largest carmaker also said one executive will assume a newly created post to oversee quality improvements.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Voting Booth
Do you think corruption-accused National Assembly Speaker Nosiviwe Mapisa-Nqakula will survive a motion of no confidence against her?
Please select an option Oops! Something went wrong, please try again later.
Results
No, her days are numbered
41% - 451 votes
Yes, the ANC caucus will protect her
59% - 644 votes
Vote
Rand - Dollar
18.94
-0.1%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE