Honda to temporarily cut production in U.S., Canada

Honda announced late Tuesday it was halting production at most of its plants in the U.S. and Canada.

The Japanese car maker said the suspension would start from March 22nd and last a week.

Honda cited the global health crisis and its impact on supply chains as a reason for the move.

A shortage of microchips, congestion at ports, and the fallout from severe winter weather have all hampered operations.

In a statement, Honda said "the timing and length of production adjustments could change," adding that workers "will continue to have the opportunity to work at the impacted plants."

Honda typically produces about 30,000 vehicles a week in the U.S. and Canada.

It's not the only carmaker to be affected by a shortage of microchips.

General Motors, Volkswagen, and Ford have all had to cut production with warnings that it could shave billions off their earnings.