Europe car market recovery seen after 2010-Renault
PARIS, June 17 |
PARIS, June 17 (Reuters) - The European automobile sector is unlikely to see a recovery before 2011, the head of French carmaker Renault (RENA.PA) said in a newspaper interview published on Wednesday.
"I don't see it in Europe before 2011. I see 2010 at the same level of 2009, with ups and downs," Renault Chief Executive Carlos Ghosn told th
e International Herald Tribune.
"If scrapping incentives were to continue for a while, it would be a different story. Stopping the incentives would have a recessionary impact," added Ghosn, who also said that he saw a recovery in the U.S. auto sector by the end of 2009.
The world automobile sector has seen a slump in demand caused by the global economic slowdown.
(Reporting by Sudip Kar-Gupta; editing by Simon Jessop)
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