Renault CEO not worried about China slowdown image

The French carmaker Renault does not seem to be troubled by the economic situation in China and how it has been affecting auto sales there, according to the brand’s head, Carlos Ghosn, in an interview published on Saturday.

Ghosn has stated that Renault sells 30,000 cars every year in China and that it is planning to launch a new factory there starting 2016.

While recent data from China estimates that the third quarter of auto sales this year will witness a drop to under 7% for the first time since the global crisis back in 2009, Ghosn does not seem worried about that. He stated for the Journal du Dimanche, French newspaper, before the Frankfurt Auto Show on September 15th that “If there is one carmaker that is not worried about the situation in China then it’s us. There’s one advantage with China. When the government decides to do something, it does it. When it decides to relaunch the economy, you know that it’s going to go all out to do it.”

The chief of Renault added that the economic downturn in Brazil in China did not lead to the group’s rethinking of current strategy to build up a larger presence in emerging markets, despite current struggle in these regions in terms of new car sales. He explained that because these markets are volatile, Renault has to be present everywhere, and while the situation in China is not great at the moment, there are always other markets to compensate for any downturns.

Ghosn also announced that the French Group is looking to improve its productivity until present weak markets get back on track, saying that he has not doubt that the Brazilian and Russian car markets would definitely be revived.