Ghosn Sticks with Nissan

After Nissan posted a $1.4 billion net loss for 2008, the company's CEO Carlos Ghosn stepped in and said he would not resign before the Japanese manufacturer gets back on track and returns to profitability, Reuters reported.

"If you leave now, you wouldn't be leaving - you would be deserting," Ghosn said in an interview after Nissan posted its results. According to his expectations, Nissan will return to profitability sometimes in 2011, but only if the global auto demand stands at around 54 million vehicles.

Asked whether he will follow the trend and take a chance by picking up the left overs from the American automotive industry, Ghosn admitted that the status of the US sector presents itself as an opportunity. But, for the moment, Nissan will mind its own business.

"We are focusing on our own business for the moment, on our own cash, on our own profitability, leaving the opportunities on the side. When we're back to profit, feeling the pickup and (feel) that the financial turmoil is behind us, then we may think again, but not for the moment," the CEO was quoted as saying by Reuters.

The Renault-Nissan alliance was rumored to have entered talks with GM for the creation of an automotive trinity all the way back to 2006 and considering the current quest for size Fiat is undertaking, the rebirth of those plans came was no surprise. Speaking of the size Fiat plans to reach, Ghosn said "the main problem at that scale is efficiency, and really using the scale."

Carlos Ghosn was appointed CEO of Renault and Chairman of the Board of Directors last week. He now holds the CEO position in both companies.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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