« Back Seat Driver: Hummer is looking for a job | Main | Gas Prices Jump, but May Not Stay High »

Ghosn Says US Auto Market in Recession

SEOUL, South Korea -- The head of Nissan said even if the United States is not in recession, its auto industry is, according to the Associated Press.

"We are very lucid on the situation of the industry that there is a recession in the United States, at least in the car market," CEO Carlos Ghosn told reporters, saying automakers face rising costs for iron ore, precious metals, aluminum and other materials.

Ghosn, who is also president and CEO of Renault SA of France, expressed optimism that the market will improve. Renault owns 44 percent of Nissan.

The American auto market "will not stay in recession for a long time," he said.

Posted by Peter C. T. Elsworth  at 10:31 AM to Auto industry | Permalink

Comments

Post a comment

Please be civil. Vicious comments, personal attacks and profanity won't be published.

Name:

Email Address:

URL:
Remember Me? YesNo

Comments: (you may use HTML tags for style)