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Nissan chief predicts no recovery before 2011

Nissan chief Carlos Ghosn believes the global car market could shrink by 14% this year because of the downturn.

Speaking at a Global Competitive Forum in Riyadh, Saudi Arabia, Ghosn said he expected more consolidation in the automotive industry and recovery would not happen before 2011, reports The Daily Telegraph.

Last year the car market shrunk by 9%.

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