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Originally published Tuesday, March 5, 2013 at 2:51 AM

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Renault CEO: Carmakers must push outside Europe

Renault CEO Carlos Ghosn says the European car market is going to be tough for five more years and the only way for struggling carmakers to survive is to push into other markets.

The Associated Press

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GENEVA —

Renault CEO Carlos Ghosn says the European car market is going to be tough for five more years and the only way for struggling carmakers to survive is to push into other markets.

Ghosn said he is optimistic that Renault will sign an agreement with its unions to improve the competitiveness of their factories in France - but that's a long-term solution.

Right now the company must make up for the shortfall in Europe by tapping markets outside the region. Renault saw its net profit fall 15 percent in 2012.

On the sidelines of the Geneva Motor Show Tuesday, Ghosn said he was ready for a tough few years: "The only way to prepare for that is to make sure you have strong growth and profitable growth in other markets."

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