Renault-Nissan chief executive Carlos Ghosn and
Rick Wagoner, CEO of General Motors Corporation held
closed-door talks amidst mounting fears that the proposed
three-way alliance may not materialise for want of requisite
meeting, held at a secret location on the sidelines
of the Paris auto show, comes ahead of the mid-October
deadline the companies set for themselves to finalise
an alliance plan.
July, the three companies had announced they would spend
90 days examining the potential benefits of an alliance
that could create an auto giant with a combined annual
production of 15 million vehicles.
of both GM and Renault-Nissan declined to comment on
the talks. However, they confirmed the CEOs met and
industry sources said the talks concluded around noon.
vice president Patrick Pelata later told reporters that
Wagoner and Ghosn have identified a number of areas
for possible cooperation.
However, analysts say the companies are way off an alliance
plan and a GM-Renault-Nissan combine may not match Toyota,
which is much stronger.
had reported a 3.2-per cent fall in sales at to 1.32
million vehicles in the first half while its western
European market share slid to 8.9 per cent in August,
down one percentage point from the same period last
Motors, the world''s largest automaker, has been the
global industry leader for 75 years. GM employs about
327,000 people around the world. With global headquarters
in Detroit, GM
manufactures cars and trucks in 33 countries. Industry
sources are of the view that an alliance would help
Renault more than GM.