There has been an up-beat market reaction to the break-down in talks between US car maker General Motors and the Japanese-French alliance Nissan-Renault. The discussion apparently stumbled over the premium GM was insisting upon, which Nissan Renault declared was too slanted towards the American car firm.
General Motors Chairman Rick Wagoner put a positive gloss on things: “We aren’t building our turnaround efforts on the basis of additional partnerships, because we deal with what we know and what we can control. But we are open to additional partnerships if they help us to move better and faster,” he said.
Shares for Nissan closed over two percent up in Tokyo’s morning trade and look set to continue their climb.But the Japanese firm – who have had a seven year relationship with Renault has refused to deny rumours that the Ford motor company could take up where GM have left off.
With Ford’s shares now at a three week high on the back of the speculation – the car industry could still be on the brink of a global shake-up.