TOKYO (AP) -- Nissan Motor Co. said Friday it was likely skipping all auto shows except for four this year as the Japanese automaker grapples with cost cuts to cope with plunging global demand.
Tokyo-based Nissan plans to take part in the shows in New York, Shanghai, Tokyo and Geneva this year, but is putting others under review to see if the investment is worth the possible returns, it said.
Like other automakers, Nissan, which makes the Z sports car and March subcompact, has been hurt by declining sales, especially in the important U.S. market where a financial crisis and a credit crunch has sent auto sales tumbling.
Nissan said recently that its vehicle production in the U.S. fell a stunning 70.7 percent on year in January. Nissan said it will continue with other marketing efforts with the nine new models planned for this year.
Nissan has joined a host of Japanese companies, including Toyota Motor Corp., Toshiba Corp. and Sony Corp. in slashing jobs and projecting annual losses.
Nissan expects a 265 billion yen ($2.7 billion) net loss for the fiscal year through March.
The other major auto shows around the world include Detroit, Chicago, Beijing and Frankfurt.