Renault CEO: Carmakers must push outside Europe

March 5, 2013

The European car market is going to be tough for five more years, Renault CEO Carlos Ghosn predicted Tuesday, and the only way for struggling carmakers to survive is to push into other markets.

Hit by fleeing customers, struggling economies and idle production lines, Europe’s carmakers are finding it harder to recover from the collapse of the car market in 2008 than some of its rivals in the U.S. and Asia.