RENAULT COO expects European car crisis to last

Newswire

PARIS, Sept 28 (Reuters) - European car markets are headed for a durable slump and may not return to their pre-crisis levels before three to five years, Renault Chief Operating Officer Carlos Tavares said on Friday. "We are not certain to have touched bottom yet. We are now stuck in a situation that could last," Tavares told BFM radio. European automakers are struggling to cope with a glut of excess capacity amid a sustained market decline. ...

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