Why Renault-Nissan isn't concerned by Chinese market tremors
Source : Why Renault-Nissan isn't concerned by Chinese market tremors
Despite China’s car market causing upset for some Western car brands, Renault-Nissan boss Carlos Ghosn remains confident of success within the future
Car makers who sell significant volumes in China have been expressing various degrees of concern about the nation’s financial jitters, with plummeting stock market values triggering predictions of a fully fledged economic crisis.
Yet although Renault-Nissan CEO Carlos Ghosn admits of which he’s worried about the short-term prospects of the Chinese market, he remains confident of its long-term importance.
“the idea depends on your timeframe,” he told journalists at Renault-Nissan’s dinner before the Detroit motor show. “Am I worried about the next three weeks, then yes, the idea is actually up along with also down along with also crazy. of which is actually not our horizon, though; our horizon is actually the next three years, the next 5 years, along with also then I’m not worried.”
Ghosn remains confident of which China’s demand for mobility will ensure the long-term prospects of those car makers heavily exposed to the market.
“Today in China you have, on average, 100 cars per 1000 residents,” he said. “of which number is actually 800 within the United States along with also in Europe around 500. No matter how you stretch the idea, nobody believes of which the Chinese are going to remain at 100 or even 0 per 1000 residents, knowing of which Brazil is actually at 0, Russia is actually at 300, etc.
“So there is actually a fundamental growth coming in China. The Chinese car market increased last year by 5%, in a very mediocre year. of which’s nearly as much as the United States in what we were told was a very not bad year.”
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