Global auto sales will reach record levels in 2011 and 2012, despite uncertainties surrounding global economic growth amid the ongoing debt crisis in Europe, Renault-Nissan chief Carlos Ghosn has said.
He told Dow Jones Newswires that current orders and the sales trend already point to record sales this year while 2012 is also shaping up for solid growth that should push sales to another record.
Go deeper with GlobalData
Ghosn added that emerging markets, a key area where Renault and Nissan are expanding, are leading the charge with Brazil, Russia, India and China topping the charts.
The pressure point for sales, he said, comes from the world’s developed economies, which have failed to rebound from the 2008 financial crisis and economic slowdown with the same vigour as emerging markets.
“The only doubt about the US is about how big growth is going to be. I don’t think we’re worried that the US is going to fall into recession next year.”
Japan is also expected to show some growth as it rebounds from the effects of March’s massive earthquake and tsunami.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“The big question is Europe,” Ghosn said adding that Renault-Nissan is not very optimistic about Europe’s growth prospects even before the recent debt crisis.
Ghosn has been visiting Brazil, a market the Alliance is keen on tapping. He has already announced plans to expand capacity at a Renault plant in the country, and to build a Nissan factory. The investments are understood to total about US$1.7bn.
