Subscribe free to our newsletters via your
. Space Industry and Business News .




CAR TECH
Renault chief sees Europe auto market slowing in 2015
by Staff Writers
Shanghai (AFP) Oct 25, 2014


French carmaker Renault chairman, Carlos Ghosn, said Saturday that he expects slower growth in Europe's auto market next year as it continues to recover from the global economic crisis.

Ghosn, who is also Renault's chief executive officer, said the European market was growing at six percent so far this year -- the best since the 2007 crisis.

"I'm expecting in 2015 this recovery to continue," Ghosn told journalists on the sidelines of an industry forum in China's commercial hub Shanghai.

"I don't see another six percent increase. I think the increase will probably be more moderate than six percent... in line with GDP (gross domestic product) growth," he said, but gave no estimates for Renault alone.

Ghosn is also president and chief executive officer of Japan's Nissan Motor Co. through an alliance between the companies.

Many foreign carmakers turned to China, the world's largest auto market, in the wake of the global crisis as their home markets in the United States or Europe collapsed.

China's auto market is now slowing as well, as weaker domestic economic growth and a corruption crackdown take their toll.

But Ghosn said Renault and Nissan were committed to adding production in China.

In late 2013, Renault signed an agreement with Chinese company Dongfeng to set up a joint venture that will start production in 2016 with initial capacity of 150,000 vehicles a year.

Nissan has an existing partnership with state-backed Dongfeng, China's second largest automaker. The two companies last month announced they plan to produce Infiniti luxury cars along with their current offerings.

"We're adding capacity (in China)," Ghosn told business executives after a speech at the China Europe International Business School.

"We don't believe the slowdown in China is going to be long-term because the fundamentals are still pointing towards a very good development of the industry," he said.

China's auto sales rose just 2.5 percent year-on-year in September, the slowest growth for any month this year, to 1.98 million vehicles.

Last year, auto sales in China reached 21.98 million vehicles.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Car Technology at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








CAR TECH
Report: Better mpg, switch in fuels means lower expense
Washington (UPI) Oct 21, 2014
Better fuel efficiencies and a change in fuels used for home heating means most people are spending less on energy than before, the U.S. Energy Department said. "Because electricity and transportation spending accounts for more than two-thirds of consumer energy expenditures, increasing vehicle fuel efficiencies and changing fuels used for home heating have contributed to lower consumer ... read more


CAR TECH
'Cloud' lifts Microsoft earnings above expectations

E-waste inferno burning brighter in China's recycling capital

Suomi team ward off recent space debris threat

Argentina launches its first telecom satellite

CAR TECH
Russia to Orbit 9 MilCom Satellites by 2020

Thales providing satcom capability to Qatar

Development of software for electronic warfare resumes

GD's MUOS-Manpack PRC-155 Radio Connects USAF Aircraft to Ops Center

CAR TECH
SpaceX returns to Earth loaded with lab results

Proton-M Lofts Express-AM6 Satellite

China Completes Country's Largest Spaceport

Argentina launches geostationary satellite

CAR TECH
Galileo duo handed over in excellent shape

With IRNSS-1C, India a Step Closer to Own Navigation Satellite System

ISRO to Launch India's Third Navigation Satellite on October 16

Russian Phone Operators Could Become GLONASS Shareholders

CAR TECH
Brazil, Argentina to negotiate over Gripen aircraft

Australia closer to new joint-service helicopter crew training

Turkish cruise missile tipped for F-35

Heading, attitude system ordered by Airbus Helicopters

CAR TECH
Researchers develop world's thinnest electric generator

Australian teams set new records for silicon quantum computing

A novel platform for future spintronic technologies

Future computers could be built from magnetic 'tornadoes'

CAR TECH
China to help map Guyana's mineral resources: minister

Satellites for smart logging

Google offers peek into Bhutan with Street View launch

NASA Tool Helps Airliners Minimize Weather Delays

CAR TECH
Major breakthrough could help detoxify pollutants

US hid troop exposure to chemical agents in Iraq: report

Days of heavy air pollution blight northern China

Nanoparticles Accumulate Quickly in Wetland Sediment




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.