TOKYO (AP) -- Mitsubishi Motors Corp. says it will halt production at its biggest plant in Japan for three weeks in February to cope with mounting inventories of unsold vehicles amid a deepening global downturn.
Japan's fourth-largest automaker said Tuesday the move will affect its Mizushima plant in western Japan, which has annual production capacity of 600,000 units. The Mizushima plant mainly produces passenger cars.
Faced with slumping sales at home and abroad, Mitsubishi Motors has forecast its net profit will likely drop by 42 percent in the current financial year ending March 2009.
Japanese automakers have been cutting jobs and production to cope with shrinking global demand.