Honda cuts production by 50,000 units in U.S. and Japan

Honda is planning to slash another 50,000 units from its global automotive production in 2009. This is the third round of production cuts that Honda has announced so far, with the last cut being over 100,000 units produced in North America. This time, the drop will also hit Honda's home market of Japan where the Yachiyo facility will produce 21,000 fewer Kei cars than first planned. In addition, plants in Ohio (down 14,000 total units) and Alabama (down 6,000 units) in the United States and in Ontario, Canada (down 9,000 units) will also reduce their output.
Honda currently projects it will sell 1.264 million units this year in North America, a figure that's 12% lower than the initial forecast of 1.468 million vehicles. Despite this drastic downturn in sales expectations, Honda currently has no plans to reduce its workforce in either Japan or in North America.
[Source: Automotive News - sub. req'd]