Honda’s CEO disagrees with Ghosn, says no recession in U.S.

Honda’s CEO, Takeo Fukui disagrees with the recent comments made by Nissan’s CEO Carlos Ghosn about the auto industry being in a recession.

“It is true that in states like Florida and California, the numbers are going down,” Fukui said. “But if you look at the U.S. as a whole, I don’t think we’re seeing a recession. There are still good business opportunities. There is firm demand for automobiles.”

Fukui said that Honda’s slow sales in Florida and California are being offset by “record sales” along the East Coast and in the Midwest.

Ghosn told reports last week that automakers are facing rising costs for iron ore, precious metals, aluminum and other materials.


Source: Automotive News (Subscription Required)

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