In an exclusive interview with Asia Times published on 20 December 2024, Carlos Ghosn—speaking from Beirut—warned that any collaboration between Honda and Nissan would likely be a takeover rather than a true alliance, and expressed concern about Nissan’s precarious position.
Key highlights:
- “What I believe is that there could be a takeover… but as you know, a takeover is not an alliance.” Ghosn emphasized Honda’s fierce independence and noted the Japanese government may intervene if Nissan collapses.
- He observed that Honda has “never been able to establish an alliance,” citing its small market share—less than 10% in the U.S., under 1% in Europe, and just 11% in Japan—along with its modest profit margin of 3.6% for April–September 2024.
Nissan: “Things fell apart post‑Ghosn”
- Nissan’s operating profit plunged 90% to ¥32.9 billion, with a margin of only 0.5%, while sales have dropped to approximately 3.4 million vehicles, down from 5.7 million in 2017 and 5.5 million in 2018 when Ghosn was still in charge.
- Ghosn noted:
“Frankly, a lot of people have asked me how is it that after I left, everything collapsed… But not only did I leave. A lot of other people left with me… And these were people who had grown up in the organization.”
- He specifically called out José Muñoz as “one of the most promising talents at Nissan” who departed shortly after Ghosn’s arrest for a leadership role at Hyundai.
A challenging path ahead
- Ghosn admitted Nissan’s predicament isn’t hopeless, but emphasized the need for capital and competent leadership:
“Personally, I don’t think that this is mission impossible… But you have to find the right people with the right vision of the industry.” He warned that without trust, no alliance can endure:
“Trust is the basis of everything… When trust is breached, the collapse is near.”
- Ghosn concluded:
“They’re now trying to make a kind of theater for the public… It’s all bullshit.”
December 20, 2024
Ghosn, 5 years after escape, pessimistic about Honda-Nissan tie-up – Asia Times