Nissan's Ghosn: Auto Industry Crisis Far From Over

Ghosn called for shareholders patience until investment in electric cars bears fruit.

Published: 25-Jun-2009

Nissan Motor Co. President Carlos Ghosn told shareholders Tuesday the financial and economic crisis that has pummeled global auto demand is not over as complaints about the company's dismal performance poured in.

Ghosn defended Nissan's focus on zero-emission electric cars as shareholders slammed the automaker for lagging far behind in the hybrid competition driven by rivals like Toyota Motor Corp. (NYSE:TM) and Honda Motor Co. (NYSE:HMC)

''The current crisis is forcing us to rebalance our long-term goals and short-term imperatives and priorities,'' Ghosn said at Nissan's annual general shareholders meeting in Yokohama, Kanagawa Prefecture.

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