We've Not Hit Bottom, Ghosn Says
December 15, 2008
Nissan-Renault CEO Carlos Ghosn said the global auto industry has not hit bottom yet.
French president Nicolas Sarkozy invited Ghosn and Christian Streiff of PSA Peugeot Citroen to discuss the crisis in the global industry Monday, after promising to help the carmakers if they promised not to move jobs abroad. Renault, PSA and others are shedding thousands of jobs in France and elsewhere in Europe as they cut output.
"I do not see a rapid issue to the crisis in the automobile industry," said Ghosn. "We have not touched the bottom yet."
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