Auto makers have been scrambling to adjust production because of the sales decline. On Friday, Honda Motor Co. (HMC) announced its fourth round of production cuts in North America, making its biggest output reduction of 119,000 units by the end of its fiscal year.

(In "GM To Idle 30% Of Volume, Cut 1Q Production By 250,000 Units" published at 1:00 p.m. EST, the date of Honda's announcement was incorrect.)

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