Nissan Motor president Carlos Ghosn has denied earlier US media reports that the Japanese automaker had proposed a capital tie-up with Chrysler .

Ghosn told a symposium in Japan that such reports were speculation and dismissed such investment as unrealistic during the credit crunch.

Nissan would not negotiate a deal that requires cash at a time of financial crisis, he added, according to a Japanese news agency.

Ghosn also forecast US vehicle sales this year at 12.5m units, down from the 15m Nissan initially estimated.

Meanwhile, MarketWatch quoted Ghosn as saying that tough business conditions in the auto industry could continue until 2010.

He also expected the current stagnant monthly sales in the US to continue until the end of the current fiscal year ending 31 March.