Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Ghosn Upbeat on Car Market

Renault-Nissan boss Carlos Ghosn expects Russia's car market to overcome recent weakness and is aiming, with the help of Lada-maker AvtoVAZ, to capture 40 percent of the market, he said in a newspaper interview.

Ghosn said he was optimistic that the market would grow over the longer term, citing low car ownership in the country.

"I don't doubt for a second that car ownership in Russia should be not less than in Portugal, Spain and Italy," he told Vedomosti.

"There may be quarterly or even yearly falls in sales, but on the whole I have no doubt that the trend is upward."

Car ownership in Russia is less than 300 per 1,000 people, compared with a European average of 500, he said.

Ghosn is chief executive of Japan's Nissan Motor Co and holds the same position at its partner, French carmaker Renault SA.

Read more