French auto sales slide for fourth month

1st September 2010, Comments 0 comments

Sales of new cars in France fell for the fourth month running in August, when they were down 9.8 percent from the level 12 months earlier, data showed on Wednesday, as a reduction in state purchasing incentives took its toll.

Sales have declined since May as subsidy pay-outs in a "cash for clunkers" scheme were cut from 1,000 euros (1,280 dollars) last year to 700 in January and 500 in May.

In the first eight months of the year new-car sales were up 1.8 percent to 1,483,292 units from the same period of 2009.

Last year 2.27 million new cars were registered in France as drivers took advantage of an arrangement under which they received cash for trading in their old cars for new models.

French automakers Renault and PSA Peugeot Citroen reported sales slides last month of 3.8 and 9.2 percent respectively.

Among foreign brands, sales rose 1.5 percent at Volkswagen but were down 23.7 percent for General Motors, 23.5 percent at Ford, 22.4 percent at Toyota, 6.7 percent at Fiat, 13.7 percent at Mercedes and 31.3 percent at BMW.

© 2010 AFP

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