Ghosn sees a gloomy 2010 for automakers
PARIS–There will be no rebound in car markets in Europe and Japan before 2011, the head of car makers Renault and Nissan says.
In comments reported by the French daily Le Monde, Carlos Ghosn said the end of scrapping deals in Europe that encourage car buyers to trade in older cars for new ones would hold back any rebound in the car market. The deals have helped limit the decline in car purchases.
He predicted no pickup in Europe’s car industry until at least the first quarter of 2011. He said Japan too would have to wait until 2011 to see improvement business