The U.S. auto market was down nearly 40 percent through the first five months of the year but Renault and Nissan CEO Carlos Ghosn expects the market to show signs of recovery by the end of the year. Ghosn’s comments echo Ford CEO Alan Mulally’s optimism for a market uptick by the end of 2009.
Although Ghosn expects the U.S. market to pick up during the second half of the year, he doesn’t foresee the European market picking back up until at least 2011. “I don’t see it in Europe before 2011. I see 2010 at the same level of 2009, with ups and downs,” Ghosn told the International Herald Tribune.
“If scrapping incentives were to continue for a while, it would be a different story. Stopping the incentives would have a recessionary impact.”
Some European countries have seen tremendous success with scrappage programs. In Germany, new car sales are up about 40 percent, largely due to scrapping incentives. The U.S. recently passed its own scrappage program.
Lamborghini revealed last week that it doesn’t expect the market to recover fully until 2011.
06/17, 5:57 PM
posted by:
johnnycanuck
Speaking of Ghosn and all things Nissan what’s happening with the Ram based Titan and the Versa based small car they were going to do for Chrysler? I could see the truck thing still happening but with the Fiat deal I hardly think Chrysler needs (or is going to need) another small car.
06/17, 7:27 PM
posted by:
jayjc08
Bottom line is they need a very good small car. Something to compete with the Civic, Corolla, Focus, etc. Just a straight forward well designed, good looking sedan.
Compact sedans are developing similar to how mid sized sedans were evolving in the 80’s.
06/17, 7:32 PM
posted by:
StepAhead
I think Mr Ghosn is spot on.
06/17, 7:56 PM
posted by:
Dr. Lincoln
Ghosn and Mulally two of the best in the automotive business as we speak. Both of their companies are surviving dispite the fact that they don’t have the most popular products on the market. Steady as she goes.
06/17, 8:12 PM
posted by:
mayer_ray_nagin
If the market picks up in H2, it wont be for Nissan products. They have squat in the queue. Ford will see a pick up though with the Taurus, and I am starting to see new Fusions all over.
06/17, 8:24 PM
posted by:
Borat
I don’t know if Mullally is in the same league as Ghosn, but Mulally still drives and own his LS460. Perhaps he knows something about cars.
06/17, 11:31 PM
posted by:
bigdawg
I’m trying to recover from that photograph of that Versa! LOL
06/18, 2:32 AM
posted by:
MurcieMe
I think Lamborghini are concerned with a *slightly* different market than Nissan / Renault!
06/18, 6:21 AM
posted by:
carstuff
May hit a SAAR of 9.9 million, showing a continuous rise from November I believe. Will we hit a total of 10 million this year? Most likely. May would have been much higher but the imports really fell during May.
GM/Ford also continue to increase market share.
So I would agree that we are having a recovery which will continue slowly and then accelerate in 2010.
06/18, 1:29 PM
posted by:
RaineMan
I don’t know where these people are getting their delusions from. I don’t expect to see any kind of forward economic progress until late 2010 at the earliest.
We haven’t even seen the extent of fallout from Chrysler & GM bankruptcies yet. Exactly how many plants and dealerships are going to close permanently? How many thousands more are going to lose their jobs? What about the auto suppliers who are apparently in such bad shape? How many of them will lay off half their workers (or more) or close down completely before this all gets sorted out? Let’s also not forget about the fact that fuel prices are on the rise again… they’ve jumped 20 cents in the last month here in town… that is going to effect everything.
This isn’t a situation where we can say “We’re okay now.” and somehow it magically happens… we’ve still got a ways to go yet before things get “better” by any measurable margin.
06/19, 9:13 AM
posted by:
carstuff
Actually just saying “we’re OK now” would solve the problem. People would feel confident to start buying and the recession would be over.
06/21, 12:35 AM
posted by:
Yomama Sophat
@johnnycanuck, re:
“Speaking of Ghosn and all things Nissan what’s happening with the Ram based Titan and the Versa based small car they were going to do for Chrysler? I could see the truck thing still happening but with the Fiat deal I hardly think Chrysler needs (or is going to need) another small car.”
Not only that, but isn’t Nissan building the fugliest small cars? Every time I see a Versa I can’t help thinking how hideous it is, in hatchback or regular form…
06/21, 12:38 AM
posted by:
Yomama Sophat
@Borat, re:
“I don’t know if Mullally is in the same league as Ghosn, but Mulally still drives and own his LS460. Perhaps he knows something about cars.”
Ya gotta be ****tin’ me…some morale builder that’s gotta be, for Ford employees…