Carlos Ghosn, Chairman and CEO of Nissan and Renault, gestures as he poses after a news conference to present the company’s 2011 annual results at the Renault headquarters in Boulogne Billancourt near Paris last week..

Renault hunkered down for tough times ahead in the European car market, cutting stocks of unsold cars to help generate more than twice the cash it had targeted in 2011 and slash debt to its lowest level in 13 years. REUTERS