UPDATE 1-Mexico vehicle exports fall for fourth month

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MEXICO CITY, April 11 (Reuters) - Mexican auto exports fell 11.3 percent in March versus the same month a year earlier, industry group AMIA said on Wednesday, hit by a slowdown in the U.S. economy.

It was the fourth straight month that auto exports fell, on a year-on-year basis. AMIA head Cesar Flores warned the group could cut its 2007 export outlook from a current level of 25 percent to 30 percent.

"If the U.S. economic slowdown is going to be generalized, yes we could be affected," Flores told reporters.

Mexico's economy depends heavily on U.S. demand, and economists fear the slowdown in the world's biggest economy could stem the flow of exports north from Mexico.

"These are the first signs we've had of a possible adjustment to our export outlook," Flores said.

AMIA in recent months had blamed export declines on poor weather and changes of car models.

Auto production dropped 12.6 percent against March 2006, AMIA said.

The economy in Mexico is seen by economists at growing around 3.5 percent this year.