TOKYO (Reuters) - Nissan Motor (7201.T), Japan’s third-biggest automaker, said on Friday it would skip some major international auto shows in the new business year starting on April 1 to save cash as global car sales plummet.
Nissan, owned 44 percent by Renault (RENA.PA), said it had selected the New York, Shanghai, Tokyo and Geneva auto shows during the 12-month period to March 31, 2010 as the four major events to showcase its cars.
Global carmakers use auto shows to promote latest and upcoming vehicle offerings and technology, both through the media and to the public. But signs of dwindling participation are emerging as the global slump eats into the industry’s sales volumes and profits.
Last month, Nissan skipped the North American International Auto Show in Detroit, considered one of the most important among the top-tier shows. Japan’s Suzuki Motor (7269.T), Mitsubishi Motors (7211.T) were also absent.
Mitsubishi Motors also said this month it would be selective in its attendance, starting with plans to drop the Frankfurt auto show in October.
Nissan’s decision means it will again be absent from Detroit next January, as well as Frankfurt. Participation in regional, lower-tier shows is subject to review, it said in a statement.
Most automakers will be present at the annual Geneva motor show, starting next week.
(editing by John Stonestreet)
Reporting by Chang-Ran Kim