Renault-Nissan boss: "The worst is over"

September 16, 2013: The European car market has stopped declining and is poised for a period of light growth, according to Renault-Nissan boss Carlos Ghosn.prices and a growing new car market – were in line.

Autocar Pro News DeskBy Autocar Pro News Desk calendar 16 Sep 2013 Views icon2485 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Renault-Nissan boss:
September 16, 2013: The European car market has stopped declining and is poised for a period of light growth, according to Renault-Nissan boss Carlos Ghosn.

Talking at the Frankfurt Motor Show, Ghosn said that the prediction from market analysts was backed by the car firm’s own analysis, which said that all three indicators of growth – a buoyant used car market, a rise in used car prices and a growing new car market – were in line.

“There are many indicators, all of them signalling the end of a period of decline,” said Ghosn. “We have entered the third phase of recovery, where we are seeing new car sales rise again. We expect to stay there, growing slightly at one to two per cent a year, for the next couple of years.”

The European car market fell a further seven percent in the first six months of 2013, but is expected to bounce back to end the year down five percent. From 2014, Ghosn says, the figures will rise.

“The worst is over. We are pretty confident the European slope has stopped going down – but also that it won’t rise significantly until consumer confidence is back,” said Ghosn. “Until the European governments show they will support growth rather than fight deficits, that situation is likely to remain.”

Ghosn identified the US, China, India and Russia as the markets with the largest immediate growth potential, but urged caution on prospects in Japan, Brazil and Indonesia.

JIM HOLDER, AUTOCAR UK
RELATED ARTICLES
Bosch pushes the software envelope for motoring hardware at Tech Day 2024

auther Autocar Pro News Desk calendar29 Jun 2024

The annual Bosch Tech Day held in Stuttgart saw the German Tier-1 major showcase state-of-the-art software solutions for...

Tata Motors’ year of transformation

auther Autocar Pro News Desk calendar23 Jun 2024

Tata Motors showed remarkable performance in FY24 despite global challenges, with the CV, PV and JLR divisions achieving...

Western India: an automotive powerhouse

auther Autocar Pro News Desk calendar23 Jun 2024

The western zone is now attracting EV makers with its pro-business policies, skilled workforce, and state subsidies.