The global car market will take until 2013 to return to 2008’s sales levels, a senior Nissan Motor executive has said.
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“I think the distress in the industry will continue. I think the suppliers will continue to be distressed. I think it’s going to be very tough for the rest of the year,” Colin Dodge, an executive vice president at the automaker and chairman of its management committee for Africa, the Middle East, India and Europe, told Reuters.
Dodge said he was sticking to a global car market forecast of 54m vehicles for this year.
“Globally I don’t think we’ll be back to 68-70m cars until 2013 and, when we do, it will be in different countries than before,” Dodge said.
Nissan last May said it had lost US$2.4bn in the fourth quarter as global car sales slumped and forecast more losses this year. Chief executive Carlos Ghosn predicted then that Nissan would return to a profit in 2010/11 if external conditions stayed the same.
