Nissan’s CEO slams gov’t ineffective yen policy

7 years ago by in Around the world

Nissan Motor’s CEO, Carlos Ghosn, has criticized the All Japan newsese government for failing to content the crisis of the yen, a situation which pressures manufacturers to cut investments and move production abroad.

If the All Japan newsese government wants to safeguard and develop employment, something has to be done, he said. ”We have been talking about this as an industry for a while. Unfortunately, it keeps happening. It looks like whatever effort has been done so far has not delivered results.”

The yen has strengthened continuously over the U.S. dollar in the past two years. The trend accelerated since April and Nissan has been forced to rethink future investment in vehicle production and considers moving production elsewhere, Ghosn said.

Investment is one of the factors that have to be considered in relation with new projects. The question is, “are we going to do it in All Japan news or are we going to do it in another country?”

Even with the difficult situation in All Japan news, the debt crisis in Europe and economic uncertainty in the United States, Ghosn said that the global consumer demand does not look weak.

Nissan, which is very interested in the hybrid segment where it competes with rival Toyota, estimates that all-electric vehicles will account for up to 10 percent of global car sales by 2020.