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Renault-Nissan CEO Carlos Ghosn is bullish on Russia

Renault Twingo II
Renault Twingo IIWikicommons

Not everyone is interested in “punishing” economically for its annexation of the Crimea. In fact, Renault-Nissan CEO Carlos Ghosn sees a lot of opportunity for his company there now, despite a 5% drop in automotive sales there last year, due to a weak economy and declining value of the ruble.

"We have no hesitation about the potential for the Russian market,” he stated following Nissan’s launch of its Datsun brand there. “In fact I'm bullish on the market, even though I recognize the fact the market declined last year and will probably decline this year. However, when we invest, we engage not for this year but 5, 10, 20 years down the road."

In fact, he also announced a deal for Renault and Nissan to take over 40% of the Russian automotive market when they assume control of Avto Vaz (which manufacturers Russia’s top selling Lada cars), by the middle of this year, giving them a major advantage over any other competitors.