TOKYO -- Carlos Ghosn, CEO of Nissan Motor Co., is feeling lousy about the state of the U.S. vehicle market.
"The first two weeks of October have been terrible for the industry," Ghosn told reporters at the Tokyo Motor Show. "We have some car manufacturers down 50 percent.
He said Nissan's sales were down 20 percent in the first two weeks, while the whole market was off 33 percent. "We're gaining market share, but in a decreasing market because demand is down," he said.
The hurricanes hurt, and high gasoline prices are becoming a drag on the economy, Ghosn said.
"For a few months, it didn't have any impact on the market," he said. "Now that consumers are little by little starting to be convinced that high prices are here to stay, they are probably shifting their attitude and behavior.
"I've not been very bullish on the American market," Ghosn added. "I was expecting some kind of slowdown. I'm afraid this is the beginning of it, and it will have an effect on all manufacturers."
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