CH: Stronger yen encourages production outside of Japan
NEW YORK--Even after some softening against the U.S. dollar, the strong yen remains a “real headwind” for the growth of Japan-based car makers, Renault-Nissan chief Carlos Ghosn said Wednesday.
With the “yen (at) 82 from 76 ... I don't call it a retreat; it is still a huge headwind for all the Japanese exporters,” Carlos Ghosn, Renault-Nissan Alliance's chief executive, said at a press briefing at the 2012 New York International Auto Show.
Many of those Japanese companies are “moving production out of Japan,” Ghosen said. Nissan is in the midst of moving production of its Leaf electric car to the United States for the U.S. market. That will help cut costs, Ghosn explained.
