Renault CEO expects Europe market to drop in 2014-15

Article by Christian A., on July 9, 2013

The vehicle market in Europe will likely persist to drop in 2014 and 2015 as rising unemployment continue to weaken consumer demand, Renault chief executive Carlos Ghosn remarked. He said that at best, 2014 and 2015 would be stable in Europe. Ghosn said that on more realistic level, there could be another drop in 2014 and 2015, but not a steep as in previous years.

He quipped he is not optimistic on the situation in Europe, since he cannot see a trigger for economic growth, particularly for the auto industry. He said that he is preparing Renault for "several years of market stability, at best." Ghosn remarked that consumers would continue to feel burdens caused by deficits.

Ghosn predicts the global vehicle market to go "from record to record" on demand in emerging markets, where the car-inhabitants ratio much lower than in Europe and the United States. He said that economic slowdowns in economies like Brazil, Russia, India and China, also known as the BRICs, are only temporary.

He said that the ratio of cars per inhabitants will continue to rise in those markets, adding that the BRICs are "here to stay for a very long time." he said. He noted that is one car for two people in Europe, one car per four people in Brazil and Russia, one car per 20 people in China. He also pointed out other emerging countries like Indonesia and those in Southeast Asia and Latin America, Africa and the Middle East. [source: automotive news - sub. required]

Topics: renault, ceo, europe

If you liked the article, share on:

Comments

Recommended

Imagine a sports car morphing into an SUV. Chevrolet initially revealed the FNR Concept at the previous Shanghai Auto Show in 2015. For this year, Chevy once again graces the...
by - April 22, 2017
From the moment FCA kicked off with its 3-month-long ad campaign until the day it unveiled the new Dodge Challenger SRT Demon, folks have been guessing what the exact figures...
by - April 22, 2017
Some people may think Audi Sport is a new company but it is in fact the motorsport division of Audi combined with the best of what Quattro GmbH can offer....
by - April 21, 2017
It is not a big secret that premium customers in China have a strong penchant for luxury cars with a spacious interior. In particular, premium customers in China purchase luxury...
by - April 21, 2017
Chinese automaker Chery did not leave a good impression last time they were in Australia - due to its cheap design. But this year, Chery showcases its new Tiggo Sport...
by - April 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries