Jerome Stoll, Renault's sales chief, said the company was seeing "headwinds" from its newer markets, despite sings of recovery in European sales.

 

Emerging markets have driven growth in the car industry since the financial crisis.

 

But some have seen slower economic growth and volatility¹ in their currencies in recent months.

 

"While Europe is showing some signs of recovery, we are at the same time seeing some headwinds from emerging markets," Mr Stoll said, speaking at the Geneva Motor Show, according to Reuters.

 

 

Meanwhile, German carmaker Volkswagen also cited concerns over the ongoing² crisis in Ukraine.

 

"We're a major trade partner of Russia and are looking at the Ukraine and Russia with concern," said the firm's chief executive, Martin Winterkorn.

 

There is concern that instability in Ukraine may encourage investors³ to move away from investing in riskier⁴ developing economies in favour of safe havens⁵ such as gold and government bonds.

 

Analysts⁶ warn that could weaken emerging market currencies, making imports more expensive and hurting car imports and sales as a result.

 

Some emerging economies have already seen their currencies decline over the past year.

 

"Some countries have seen their currencies devalue by 20, 30 or 35%." said Christian⁷ Klingler, sales chief at Volkswagen.

 

"That always has consequences... very strong consequences if one doesn't produce locally."

点击收听单词发音