Nissan CEO on Euro Crisis

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PARIS – Speaking at the Paris motor show Nissan's CEO Carlos Ghosn said the global market for cars is still good despite the crisis in Europe. He said Nissan's priority in Europe is to gain market share.

Q1) It's very glitzy in the motor show venue, but it is not so nice out there. What is your assessment of where Europe is?

Carlos Ghosn, CEO: I don't think the Paris motor show is for France, or for Europe. It's a global motor show so you have people coming from all over the world to see what European car makers, or car makers involved in Europe have to offer.

And let's not forget the global market for cars is still very good. We are now on a trend of five percent growth this year. But you recognize that within this plus five percent globally, there is a minus eight percent contribution from Europe. So Europe is really in bad shape but within an industry and a global market which is in good shape.

So yes, there is some kind of bitterness and sorrow and fear about the European market but fortunately for us still the global market is growing.

Q2) And what can Nissan do to mitigate the problems in the Eurozone?

Carlos Ghosn, CEO: Nissan needs to continue to position itself in Europe. I think pursuing the objective of becoming the number one Asian brand in Europe is something that our team is doing.

I'm supporting them as much as I can because once and for all we need to take position in the main market and show that Nissan has the best offer and the best performance. That's number one.

But second, when the market goes down by eight percent there's not a lot you can do to overcome that. So the best way to mitigate it is to really enhance our efforts in markets which are much more strong like in China, or Russia or South East Asia or the Middle East to compensate for what we are losing in Europe.

The European market is going to be bad for two to three years. We know that. We just need our team to be strong, to compete as much as they can, gaining market share, positioning the brand.

And at the same time compensating for the losses by asking other markets which are in a much better situation to give a higher contribution.

 

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Issued by Nissan