Honda slashes output further in North America

DETROIT (Reuters) - Honda Motor Co (7267.T)(HMC.N) will cut another 119,000 units from planned production in North America through March amid a deepening downturn in industrywide auto sales, the company said on Friday.

The latest production cut means Honda will have cut a total of 175,000 vehicles from planned production for its fiscal year ending in March 2009.

The move by Honda follows similar steps by most other automakers, including Toyota Motor Corp (7203.T)(TM.N) in the U.S. market, where consumer demand has slumped due to tight credit and a weakened economy.

Honda's vehicle production for the current fiscal year will now total 1,293,000 vehicles, down 12 percent from a year earlier.

Like rivals, Honda has been hurt by the collapse in sales of cars and trucks in the United States, a downturn that accelerated in October and November amid tightening credit and deepening consumer uncertainty.

Honda's U.S. sales dropped 32 percent in November from a year ago. Year-to-date, Honda's U.S. sales are down 5 percent.

(Reporting by Soyoung Kim; editing by Jeffrey Benkoe)