MEXICO CITY -- The Mexico unit of Japanese car maker Nissan said on Thursday it will hold a three-day work stoppage this month to reduce inventories amid low U.S. demand and lower its production goal for 2003.
"There is a significant inventory because we are exporting less to the United States, which is now depressed due to a recession climate and the war," said Nissan Mexico spokesman Diego Arrazola.
Nissan had planned to manufacture 355,000 vehicles this year at its two central Mexico plants, up from last year's production of 329,000. In March Nissan produced 24,056 vehicles compared to 24,931 in March 2002, according to the Mexican Automotive Industry Association (AMIA).
March exports reached 9,022 vehicles, compared with 10,596 in the same month last year.
"We are going to revise the production target but we still don't know by how much," Arrazola said.
Workers at the Aguascalientes plant agreed to a work stoppage for three days around April 25, he said.
Mexico's auto industry produced 131,970 vehicles in March, down 11.9 percent from the year-ago period, in the seventh consecutive month of dropping production rates, the AMIA said.
About 60 percent of Nissan's locally produced vehicles are sold in the Mexican market and the rest are exported mainly to the United States and Canada.