"I'm expecting 2010 to be as difficult as 2009. I am not expecting an immediate recovery," Ghosn told the French Europe 1 radio station according to a report by Reuters.
Furthermore, Ghosn said Europe is one of the last auto markets to return to growth, alongside Japan, in the first quarter of 2011. On the other hand, the United States, which is one of the most damaged in the industry when it comes to the consequences of the economic chaos, is expected to revive faster, with profitability likely to arrive in the first quarter of 2010, Ghosn said.
As for Renault, the company is focusing on its very own operations and, following the incentives the governments are offering across Europe, it expects increased sales all over the continent.
“We are very pleased with the loan granted to us by the French government. In light of the exceptional crisis impacting our entire industry, access to credit was indispensable for supporting our activity and that of the automotive industry. It will also enable us to pursue our developments and investments in sustainable mobility,” Carlos Ghosn said back in February when the French government agreed to debut the scrapping scheme.
Furthermore, Renault recently announced increased production for several models, including Clio and Twingo, following growing demand in most European markets. Sales of the two cars were driven forward by the government incentives we were talking about, with many buyers opting for the them in return for a substantial cash bonus.
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