Friday, 14th November 2008
In Business In Japan,
Nissan to cut production
Japan's third-biggest car manufacturer Nissan has announced it is to cut production for the second time in as many weeks.
Nissan said the move was being taken as a result of a sharp downturn in demand around the world.
In a statement, the firm said: "In light of declining sales in major global markets, the production cut is necessary in order to manage inventory levels and ensure a balanced production supply."
Despite coping with the credit crunch better than its rivals in the US, Nissan has started to suffer as consumers shun car showrooms.
As of next month, the company also plans to cut four shifts at its plant in Oppama, south-west of Tokyo and slow production at its Tochigi and Kyushu factories.
In related news, Democrats in the US congress are pushing ahead with plans to bail out car manufacturers in Detroit, despite the reluctance of the Bush administration.
Related news stories:
Nissan to raise prices (1st September 2008)
Nissan wants to put self-driving cars on Japan's roads by 2016 (9th April 2015)
Nissan vice chairman: 'electric vehicle not viable replacement' (5th February 2013)
Nissan and Mitsubishi join forces to produce minicar (11th June 2013)
Nissan to increase production (21st September 2010)