Ghosn rules out Renault returning to U.S.
Fiat may have returned to the U.S. market, but Renault-Nissan CEO Carlos Ghosn doesn't plan on seeing the his French marque stage a comeback in the Land of the Free. According to The Detroit News, Renault will instead focus its efforts on introducing the brand to the Chinese market. Ghosn said Renault won't return to the U.S. within the foreseeable future. That's no real surprise given how fiercely competitive the fully mature U.S. market is compared to the explosive growth possibilities in China. According to the report, Chinese car buyers took home 17.3 million vehicles last year. That number is up from just 600,000 in in 1999.
Ghosn made the comments at the Automotive News World Congress, which ran along with the 2012 Detroit Auto Show. The executive also made mention of the fact that Nissan has 65 models as of right now, and all of them are either profitable or on their way to becoming so. That wasn't always the case – In 1999, the company featured 43 models. Only four of those were profitable for the company at the time.