Carlos Ghosn's Latest Conference has shaken the Global Auto Industry

Carlos Ghosn, came in front of public in a press conference held recently in Beirut for the first since his dramatic escape from Japan, where he expressed about Tokyo prosecutors “brutal” behavior towards him while in jail. Also, states that he was victim of a conspiracy by Nissan to oust him.

Mr. Ghosn’s press conference marks a great new twist in a fourteen month long story that has shaken the global auto industry. The market capitalization of Nissan has crashed by nearly more than $10 billion. Furthermore, with the investors losing confidence in company after Mr. Ghosn’s departure that again resulted in company reporting millions of dollars loss almost every single day. Also, Renault’s market capitalization has also been seen declining to nearly 5 billion euros. The two auto giants will possibly lose their markets across Europe with sales falling down as consumer sentiment are expected of remaining negative. Since, the company accounts for almost 43-45 percent only from Europe they might further report loss followed by their stock making breaking lows in near future. In addition, to this overall industry is expected weak for the quarter due to several other global factors.

Mr. Ghosn stated that he was not in favor of Renault and Nissan merger as some in Japan were anxious, however desired to put the corporations under a holding company that would possibly have kept the balance between the French carmaker’s shove for a merger and Japanese establishment’s desire towards remaining autonomous.

Additionally, he accused Masakazu Toyoda, Hidetoshi Imazu and Hitoshi Kawaguchi in front of media as the master mind behind his downfall. Masakazu is a self-regulating Nissan director and special Japanese Cabinet adviser; Hidetoshi was former auditor at Nissan; and Hitoshi former executive vice-president of the company.

Japanese Ministry of Justice

Ministry of Justice in Japan has held that they will try whatever is needed to bring back Ghosn from. Japanese as well as Turkish authorities are investigating on how Ghosn manages to smuggle out to Beirut and Interpol has issued a 'red notice' that alerts police across the world about fugitives wanted worldwide. Besides, Tokyo prosecutors has even issued an arrest warrant against Ghosn's wife, for alleged lying.