Reality check at auto show

As Congress debated a bailout of America's auto industry, the head of a Japanese car manufacturer delivered a message of caution and hope during opening day Wednesday of the annual Los Angeles Auto Show.Gregory J. Wilcox in the Daily News.

The event typically is a time for boasts and bravado among the world's automakers, and the opportunity to unveil new models and showcase concept cars. While Nissan did debut its ECube crossover and a redesign of its iconic Z, those moments were clouded by worries about the financial crisis gripping the industry and the future of America's Big Three.

"It's a very serious and worrying situation," Carlos Ghosn, president and CEO of Nissan Motor Co. Ltd and Renault S.A., said during his keynote address to industry executives and journalists.