September 13, 2015 / 12:36 PM / in 3 years

Renault CEO Ghosn unfazed by China slowdown

Carlos Ghosn, CEO of the Renault-Nissan Alliance speaks during a question and answer session organised by the Japan Chamber of Commerce in Tokyo July 16, 2015. REUTERS/Thomas Peter

PARIS (Reuters) - French carmaker Renault (RENA.PA) 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.

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.

Reporting by Leigh Thomas; editing by Jason Neely

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below