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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Nissan to further cut production in Japan By TOMOKO A. HOSAKA,Associated Press Writer AP - 1 hour 51 minutes ago TOKYO - Nissan Motor Co., facing a sharp slowdown in global demand, said Friday it would cut production for the second time in two weeks. Japan's third-biggest automaker said it plans to lower domestic output by 72,000 vehicles during the rest of the fiscal year through March 2009, on top of a global production reduction of 200,000 units it announced on Oct. 31. "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," Nissan said in a statement. While Japanese automakers are faring better than American rivals, they too have been battered in recent months as consumers in the U.S., Europe and even Asia increasingly shun showrooms. Nissan last month reported a 39 percent drop in second quarter profit to 73.5 billion yen ($746 million). The Tokyo-based company also sharply lowered its net profit forecast for the fiscal year to 160 billion yen ($1.6 billion), down 67 percent from the previous year. Earlier, Nissan had expected a 340 billion yen ($3.5 billion) profit for the fiscal year. Its Japanese rivals, including Toyota Motor Corp. and Honda Motor Co., have also slashed their profit estimates and output projections for the year. From December, Nissan will slow production line speeds and halt operations completely on some days at its Tochigi and Kyushu plants. The Tochigi factory, north of Tokyo, manufactures Infiniti luxury models for export to North America as well as the 350Z sports car. The Kyushu facility's models include the Murano, a mid-size crossover sport utility vehicle, and the X-Trail, a compact crossover SUV. Nissan will also eliminate four shifts in December at its Oppama plant southwest of Tokyo, which makes small passenger cars for the domestic market such as the Cube, Note and March. Two engine plants will sit idle on some days in December, according to the company. Nissan said it would retain 1,000 short-term workers through December, but plans to reduce the number to 500 in 2009. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Reports: RBS to cut 3,000 jobs globallyAP - 1 hour 6 minutes ago Boeing engineers seek strike authorization voteAP - 1 hour 6 minutes ago Natixis sees opportunity in China renewables sectorReuters - 1 hour 19 minutes ago Thailand's Italian Thai turns to big net loss in Q3Reuters - 1 hour 22 minutes ago India cbank loans to govt 52.6 bln rupees wk to Nov 7Reuters - 1 hour 23 minutes ago Most Popular – Business Viewed Ancient 4,300-year-old pyramid discovered in Egypt Britney Spears's son hospitalized: statement Earth would be heading to a freeze without CO2 emissions China mulls crackdown on lip-synching Bin Laden is isolated, focused on his own security: CIA View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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