French cars sales fall as clunkers deal runs out: trade data

, Comments 0 comments

French car sales fell sharply in July as a government so-called cash-for-clunkers scheme to support the auto industry at the height of the downturn is wound down.

Sales of new cars fell by 12.9 percent from the level in July last year, on an unadjusted basis.

The subsidy scheme to encourage the purchase of new cars, which was reduced at the beginning of the year, was cut further on July 1.

If the number of working days in the period is taken into account, the fall was 8.7 percent.

A total of 169,804 cars were registered during the month, data from the CCFA auto makers' federation showed.

This measure of the car market has fallen since May. In the first seven months of the year, sales of new cars showed a rise of 2.8 percent from the equivalent figure last year, and an increase of 2.1 percent after adjustment for working days.

CCFA spokesman Francois Roudier said that the number would decline for the rest of the year, and sales for the year would be about 2.0 million, in line with the market average for the last 15 years.

In July, sales by French makers PSA Peugeot Citroen fell by 15.0 percent and by Renault by 7.6 percent.

Sales by French brands overall fell by 15.4 percent, and sales by foreign brands by 9.9 percent. French automakers had a market share of 52.6 percent.

© 2010 AFP

0 Comments To This Article