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January 26, 2016

Carlos Ghosn upbeat on China market prospects

Renault-Nissan Alliance chief Carlos Ghosn has said that he believes China's auto market will continue expanding at a healthy rate of 5-6% a year.

By David Leggett

Renault-Nissan Alliance chief Carlos Ghosn has said that he believes China's auto market will continue expanding at a healthy rate of 5-6% a year.

His remarks, in an interview with the Nikkei news agency, present an upbeat assessment of market prospects for the world's largest car market at a time when concerns are growing over the country's slowing economy.

Ghosn stressed that even 5% growth translates to additional sales of around 1 million cars, Ghosn stressed. Considering the size and maturity of the market "5-6% [annual] growth is very healthy," he said.

The Nikkei report noted that in December, Nissan car sales in China were up 15% to 159,100 units as new product helped to lift sales. The carmaker continues to develop its Chinese operations as a pillar of earnings, Ghosn said.

Ghosn was less upbeat about prospects for sales in Russia and Brazil. Russia, he said, needs oil prices to pick up and could recover quickly if that happens, but "Brazil will take more time to turn around," he said.

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