Yen Still Too High: Nissan's Ghosn

Geneva, March 5 (Jiji Press)--President Carlos Ghosn of Japan's Nissan Motor Co. on Tuesday complained that the yen is still too high. Speaking about the recent foreign exchange rates at a news conference during the Geneva Motor Show, Ghosn said, "I do not call it the devaluation of the yen. I call it the correction of the yen." Ghosn said the Japanese currency is "still far from what I consider a normal, neutral" level, which he indicated at 110 yen per dollar. Ghosn, also chief executive of France's Renault SA, unveiled a view that the European automobile market is unlikely to recover anytime soon. But entry-level products with lower prices have not been affected by the region's crisis, he said, adding that the segment is on a "very healthy" growth trend. END