French car market downturn

International Business News  –  According to comprehensive French media reports, data from the French car manufacturer platform shows that French new car sales continued to decline in July, down 7% year-on-year, and the monthly registration was only 107,500, a decline for 14 consecutive months.

In terms of vehicle types, fuel vehicles are the most affected, but still occupy 65% of the market, while electric and hybrid vehicles account for 12.1% and 21.4% respectively. From the perspective of car brands, Stlantis was hit the hardest, with sales falling by nearly 20% year-on-year in the first seven months; Renault unexpectedly recorded a growth of more than 10% in July with Dacia’s good performance. From the perspective of reasons, chip shortages, supply chain disruptions, declining purchasing power and consumers’ wait-and-see attitude are the main reasons.

France is not the only country to be hit. EU car sales fell 14% year-on-year in the first half of the year, data from the European Automobile Manufacturers Association showed. Japan’s new car sales also fell sharply for 11 consecutive months.