Carlos Ghosn : 2010 to be just as bad as 2009

I'm expecting 2010 to be as difficult as 2009. I am not expecting an immediate recovery, said Ghosn in an interview with French Europe 1 radio station.

Ghosn also said he expects Europe and Japan to be the last automotive markets to recover from the current slump, by Q1 2011. He is more optimistic about United States and other emerging markets, which he expects to resume positive growth by Q1 2010.

He also expressed his concerns about the eventual end to the current old vehicle scrapping scheme that has temporarily boosted automotive sales in Western Europe, adding that a gradual end to the scheme is important to shield the industry from a brutal, sudden shock.

VW have also previously cautioned that it expects 2010 vehicle sales in Western Europe to slow again as the market normalises after the end of the scrapping scheme. The current record sales in Germany is artificially boosted by financial incentives from the German government to boost domestic automotive sales by encouraging users to trade in their old polluting clunkers.