Nissan-Renault CEO sees 3-4 more years of Europe ‘stagnation’
NEW YORK, June 12 — Carlos Ghosn, chief executive of both Nissan Motor Co and Renault, said the companies expect “three to four more years of stagnation” in the European auto business.
Ghosn, speaking at an industry breakfast in New York, said the companies are “planning for the worst” in Europe, where auto sales have fallen along with the continent’s economies.
In Japan, where the strong yen has made it difficult to profit, Nissan is staying put, he said.
“The level of the yen is unbelievable,” he said, but added that “we’re not leaving” Japan.
Ghosn (picture), 58, said he is not working toward a merger of the French and Japanese automakers and does not see one after his tenure.
“I don’t think I will see a merger even if I retire,” Ghosn said.
Ghosn made his comments at a Wall Street Journal event. — Reuters