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Nissan's Ghosn says emerging markets hold key for global automakers

Nissan's Ghosn says emerging markets hold key for global automakers

Global automakers must increasingly focus on emerging markets, Nissan Motor Co. chief Carlos Ghosn said Friday, as growth in countries such as Russia, China, India and Brazil will be the key factor in the industry in coming years.
"No car manufacturer can ignore these markets," Ghosn, who also serves as CEO of Renault SA of France, told students at Seoul's Korea University.
Ghosn said developed markets such as the United States and Japan have been down for the past four years and prospects for this year were not bright.
The Russia market, meanwhile, expanded 25 percent last year, he said, with China just below that, and India and Brazil also growing strongly.
Ghosn said that Russia will surpass Germany in the next two years as Europe's largest auto market.
"So you cannot ignore Russia," he said. "Nobody can ignore Russia."
Renault signed an agreement in December to become a 25-percent shareholder and strategic partner with Russian automaker Avtovaz.


Updated : 2021-10-16 16:53 GMT+08:00