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Ghosn predicts U.S. sales will begin recovery this year

Posted Thursday, Jun 18, 2009, 3:12 pm in Employee News

U.S. auto sales should begin to recover by the end of 2009, the head of French carmaker Renault said in a newspaper interview published today, Reuters reported.

Carlos Ghosn, the CEO of Renault and Nissan, also said the European auto sector is unlikely to see a recovery before 2011, “I don’t see it in Europe before 2011. I see 2010 at the same level of 2009, with ups and downs,” Ghosn told the International Herald Tribune.

“If scrapping incentives were to continue for a while, it would be a different story. Stopping the incentives would have a recessionary impact,” added Ghosn. The world automobile sector has seen a slump in demand caused by the global economic slowdown, the story said. (Reuters/Automotive News)
 
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