Global automakers must increasingly focus on emerging markets such as Russia, China, India and Brazil, Nissan Motor head Carlos Ghosn said in South Korea on Friday.
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“No car manufacturer can ignore these markets,” Ghosn told students at Seoul’s Korea University, according to the Associated Press (AP).
Ghosn said developed markets such as the United States and Japan have been down for the past four years and prospects for this year were not bright.
The Russia market, meanwhile, expanded 25% last year, he said according to the report, with China just below that, and India and Brazil also growing strongly.
Ghosn said Russia would surpass Germany in the next two years as Europe’s largest car market.
“So you cannot ignore Russia,” he said. “Nobody can ignore Russia.”
Renault signed an agreement in December to become a 25% shareholder and strategic partner with Avtovaz, AP noted.
