Renault and Nissan CEO Carlos Ghosn believes that U.S. auto sales should begin recovery towards the end of 2009. On the other hand, Ghosn said that he doesn’t expect to see the European auto market to recover 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.
Like other CEOs, Ghosn also loves the UK scrappage program, a program very similar to our Cash for Clunkers legislation.
“If scrapping incentives were to continue for a while, it would be a different story. Stopping the incentives would have a recessionary impact,” Ghosn said.
Nissan’s U.S. sales were down 35.2 percent to 289,446 in the first 5 months of 2009.
– By: Omar Rana