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September 9, 2009

FRANCE: Things are on the up – Ghosn

Renault group head Carlos Ghosn thinks the financial crisis is past though not all is rosy yet.

Renault group head Carlos Ghosn thinks the financial crisis is past though not all is rosy yet.

“While we are still in a depressed economic situation, the financial crisis is clearly behind us,” he told Le Figaro newspaper on Wednesday.

The chain of finance and banking arrangements available in the auto sector had returned to more normal conditions but the industry should not expect “a strong rebound in the immediate future” but rather “a gentle climb back, spread over several years.”

Ghosn, who championed the Renault-Nissan alliance, also said he more companies to link up.

“We are seeing an explosion of investment in technologies by automakers, particularly concerning clean cars, at a time of great financial fragility. This situation is pushing them to work together to share investment,” he said.

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