💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Renault CEO Ghosn unfazed by China slowdown

Published 09/13/2015, 07:39 AM
Updated 09/13/2015, 07:48 AM
© Reuters.  Renault-Nissan Alliance CEO Ghosn speaks during question and answer session organised by Japan Chamber of Commerce in Tokyo
RENA
-

PARIS (Reuters) - French carmaker Renault (PA:RENA) is unconcerned with a slowdown in the Chinese economy hitting sales there, Chief Executive Carlos Ghosn said in an interview published on Sunday.

Ghosn said Renault is selling 30,000 cars a year in China ahead of the launch of factory there next year.

Recent data from China has raised the chances that third-quarter economic growth may dip below 7 percent for the first time since the global crisis.

"If there is one carmaker that is not worried about the situation in China then it's us," Ghosn told the Journal du Dimanche ahead of the opening of the Frankfurt car show on Sept 15.

"There's one advantage with China. When the government decides to do something, it does it. When it decides to relaunch the economy, you know that it's going to go all out to do it."

Ghosn also said that economic slumps in Brazil and China did not call into question the group's strategy of building up big presences in emerging markets.

"It's precisely because these markets are volatile that you've got to be everywhere. If there's a few clouds in one place, you see an upturn somewhere else," he said.

© Reuters.  Renault-Nissan Alliance CEO Ghosn speaks during question and answer session organised by Japan Chamber of Commerce in Tokyo

Ghosn added that the company was taking action to improve productivity until weak markets bounced back, which he said he had no doubt would happen in Brazil and Russia.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.