Renault CEO Carlos Ghosn has said he doesn’t expect a recovery for the European car market before 2011, unless scrappage schemes are extended.
The global economic turndown has badly dented European car sales and has led to several nations introducing scrappage incentive schemes.
Ghosn said: “I don't see it (a recovery) in Europe before 2011. I see 2010 at the same level of 2009, with ups and downs.
“If scrapping incentives were to continue for a while, it would be a different story. Stopping the incentives would have a recessionary impact.”
Ghosn also said that he expected the US car market to recover sooner, possibly by the end of 2009.