Renault-Nissan chief Carlos Ghosn says the European car market has recovered

Article by Christian Andrei, on September 17, 2013

Renault-Nissan chief Carlos Ghosn said that the decline in the European auto market has stopped and that it’s now expected to achieve some light growth. Ghosn told reporters at the Frankfurt Motor Show that Renault-Nissan agrees with the forecasts from market analysts that the three growth indicators (a buoyant used car market, an increase in the prices of used cars, and an expanding growing new car market) were in line.

Ghosn said that all of the numerous indicators show that the downtrend trend is at its end. He said that the company is presently at the third stage of recovery where new car sales are expected to increase once more. He also thinks that for the next two years, the car industry will stay at this phase and will post a 1 to 2% growth a year.

In the first half of 2013, the European car market declined by 7% more. However, it’s expected to recover to end the year with a 5% drop. Ghosn believes that the “worst is over” and that the figures will increase starting in 2014.

But then, Ghosn said that there won’t be a significant increase until consumer confidence is back and until the European governments show their support for growth. Ghosn named US, China, India and Russia as the markets that have the biggest immediate growth potential while he warned about the prospects in Japan, Brazil and Indonesia. [source: Autocar]

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

When Volkswagen unveiled the VW Atlas, it declared that this SUV is being developed for the United States and is set to arrive as a 2018 model. It also unveiled...
by - December 7, 2016
Did you miss the opportunity to get a brand new Dodge Viper? Well, here’s something you don’t want to miss. Dodge has announced a “final call” for orders for its...
by - December 6, 2016
Acura fans and customers rejoice! Sales have begun for the flagship model of Acura’s RLX top-of-the-range sedan – the 2017 Acura RLX Sport Hybrid. Described by Acura as its most...
by - December 6, 2016
Autonomous cars are slowly but surely gaining more appeal among drivers around the world. While a complete self-driving system has yet to be launched, carmakers have been finding ways to...
by - December 6, 2016
BMW has officially ended the production cycle for what is considered as its meanest and fastest sports car – the BMW M4 GTS. Basically a power-up evolution of the BMW...
by - December 6, 2016
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