Ghosn Sees European Market Fall Further, But “Zero Chance” For Bailout

European auto sales likely will fall 8 percent this year, Renault/Nissan CEO Carlos Ghosn told Reuters today in Paris. Should some industry leaders are hoping for government help, then Ghosn has bad news for them. There is "zero chance" for a government-led restructuring of Europe's auto industry. " very company is going to have to deal with its own problems," Ghosn said. On the Nissan side, the tensions between China and Japan are "bad news in the short term" for Nissan's sales in China, said Ghosn. "We're watching carefully the situation, and we're adjusting our production." TTAC was not invited to go to Paris, but we bribed a security guard at Renault to take some candid iPhone shots. from The Truth About Cars http://www.thetruthaboutcars.com

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