The French automotive market continues to recover

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New passenger car registrations in France grew by nearly 4% in July, the CCFA Manufacturers’ Committee announced on Saturday, welcoming that the support measures deployed by the government in favor of the sector “have worked well”. There were 178,981 new passenger car registrations in July, up 3.92% year-on-year, even as July 2020 had one less working day, according to a statement.

“We are in a very good month of July, we have one day less compared to 2019, it was even a bit of a surprise for us to see that this month of July was attacking so hard”, commented to the AFP spokesperson for CCFA François Roudier.

“The month of July bears the mark of the government’s support measures, in particular the measures in favor of destocking after containment which have worked well,” he added.

The French car market had collapsed by 72% in March, 89% in April and 50% in May, under the effect of containment to fight the Covid-19 pandemic. Distribution had been paralyzed and factories shut down, before resuming from May. The French automobile market, stimulated by government support measures, began to rebound in June (+ 1.2%).

To revive auto sales after containment, the government has notably strengthened the bonuses for the purchase of electric vehicles and introduced aid for plug-in hybrids. The conversion premium, for the scrapping of an old vehicle, has been widened to reach a large (…) Read more on La Tribune.fr

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