Nissan Motor said Tuesday that it would cut production in Japan, Britain and Spain in response to falling demand around the world as fears of a global economic slowdown prompt consumers to delay car purchases.
Nissan, in which the French automaker Renault holds a 44 percent stake, will cut production by a total 65,000 vehicles at its plants in Kyushu and Tochigi from November to March. The company had already reduced production by 10,000 vehicles in Tochigi starting in September.
Nissan had planned total domestic production of 1.39 million vehicles for the business year through March 2009.
The global slowdown in car sales has spared few automakers, with rivals of Nissan also closing or slowing factory lines across many regions. Read more International Herald Tribune .
Today Nissan announced that their UK plant will go on to a three day week.This announcement will further depress steel demand in what is already a depressed market.