Nissan Chief Projects Rise In Auto Sales
Source: Dow Jones News
(FROM THE WALL STREET JOURNAL 1/12/16) By Yoko Kubota
Global auto sales likely will grow between 1% and 2% this year, Renault SA and Nissan Motor Co.'s Chief Executive Carlos Ghosn said Monday, projecting higher U.S. and China sales would offset weakness in emerging markets such as Russia and Brazil.
In the U.S., where auto sales grew 5.7% to a record 17.5 million vehicles last year, volume growth likely will slow to about 1% this year, Mr. Ghosn said. "We are seeing something around 17.7 [million vehicles] for 2016," he said in an interview at the North American International Auto Show in Detroit.
In China, the world's biggest auto market and where monthly sales recently have been volatile, overall volume likely would expand by between 4% and 5% in 2016, he said. Full-year results for 2015 aren't yet available.
Auto sales in China grew in November over the year earlier as auto makers capitalized on a government purchase-tax break, but the recent stock-market plunge and widening manufacturers' discounts have raised concerns about the outlook for this year. Results for December aren't yet available.
"We are going to see about the same, a lot of volatility, a lot of scare on the market," Mr. Ghosn said.
Market researcher IHS Automotive projects global auto sales of 89.8 million cars and light trucks this year, up 1.3 million over 2015.
Hubertus Troska, a Daimler AG member of the board of management with responsibility for China, said Sunday he expects overall growth in China in 2016. "We're seeing a lot of growth momentum from new people coming to premium [vehicles]," he said.
Auto makers sold 21.8 million vehicles in China in the first 11 months of 2015, up 3.3% from the same period a year earlier, according to the China Association of Automobile Manufacturers. Nissan's 2015 sales in China expanded 6.3% year-over-year to a record 1.25 million vehicles.
Separately, Fiat Chrysler Automobiles NV Chief Executive Sergio Marchionne said he is retaining ambitious growth plans, which called for achieving 7 million in sales by 2018.
"We have taken a hard look at the North America footprint," Mr. Marchionne said Monday. "We need to be absolutely clear that consumers in the U.S. have shifted [toward larger trucks and SUVs] and I consider this a permanent change. We need to find ways to produce more trucks in the U.S."
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Eric Sylvers contributed to this article.
(END) Dow Jones Newswires
January 12, 2016 02:47 ET (07:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Source: Dow Jones News
(FROM THE WALL STREET JOURNAL 1/12/16) By Yoko Kubota
Global auto sales likely will grow between 1% and 2% this year, Renault SA and Nissan Motor Co.'s Chief Executive Carlos Ghosn said Monday, projecting higher U.S. and China sales would offset weakness in emerging markets such as Russia and Brazil.
In the U.S., where auto sales grew 5.7% to a record 17.5 million vehicles last year, volume growth likely will slow to about 1% this year, Mr. Ghosn said. "We are seeing something around 17.7 [million vehicles] for 2016," he said in an interview at the North American International Auto Show in Detroit.
In China, the world's biggest auto market and where monthly sales recently have been volatile, overall volume likely would expand by between 4% and 5% in 2016, he said. Full-year results for 2015 aren't yet available.
Auto sales in China grew in November over the year earlier as auto makers capitalized on a government purchase-tax break, but the recent stock-market plunge and widening manufacturers' discounts have raised concerns about the outlook for this year. Results for December aren't yet available.
"We are going to see about the same, a lot of volatility, a lot of scare on the market," Mr. Ghosn said.
Market researcher IHS Automotive projects global auto sales of 89.8 million cars and light trucks this year, up 1.3 million over 2015.
Hubertus Troska, a Daimler AG member of the board of management with responsibility for China, said Sunday he expects overall growth in China in 2016. "We're seeing a lot of growth momentum from new people coming to premium [vehicles]," he said.
Auto makers sold 21.8 million vehicles in China in the first 11 months of 2015, up 3.3% from the same period a year earlier, according to the China Association of Automobile Manufacturers. Nissan's 2015 sales in China expanded 6.3% year-over-year to a record 1.25 million vehicles.
Separately, Fiat Chrysler Automobiles NV Chief Executive Sergio Marchionne said he is retaining ambitious growth plans, which called for achieving 7 million in sales by 2018.
"We have taken a hard look at the North America footprint," Mr. Marchionne said Monday. "We need to be absolutely clear that consumers in the U.S. have shifted [toward larger trucks and SUVs] and I consider this a permanent change. We need to find ways to produce more trucks in the U.S."
---
Eric Sylvers contributed to this article.
(END) Dow Jones Newswires
January 12, 2016 02:47 ET (07:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
