The wire is part of the mast jacket bushing, which activates your horn. I would suggest getting a new mast jacket bushing from the Filling Station instead of repairing the wire. To repair the wire you have to remove the mast jacket bushing from the mast jacket, and in doing so the old mast jacket bushing will probably disintegrate when you try to remove it. Therefore, you are better off installing a new mast jacket bushing.
To remove the mast jacket bushing you must first remove the steering wheel and then the mast jacket from the main shaft. The mast jacket bushing is pressed into the mast jacket so it must be driven out from the back side of the mast jacket using a long piece of wood or a long pipe that has the correct outside diameter. Once removed, then the new mast jacket is pressed into place. When installing the mast jacket bushing, make sure that you get it in the proper location inside of the mast jacket so that the horn will activate properly.
