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The auto market continues its descent into hell

2021-03-01T08:13:37.062Z


New passenger car registrations in France fell by 21% in February, according to the Committee of French Manufacturers of a


For the seventh consecutive month, the new car auto market is in the red.

In February, the stall is even spectacular with a drop in registrations of 21% compared to the same month of 2020 with only 132,637 units sold.

Stellantis, which now brings together the Peugeot, Citroën, Opel and Fiat brands, recorded a 25.64% drop in registrations and Renault saw theirs decline 22.23%.

An erosion that can also be found among foreign manufacturers: Volkswagen saw its registrations drop by 20.11%, BMW experienced a decline of 19.95%… Toyota is limiting the breakage a little with a drop of 9.06% .

"The drop in orders in the second half of 2020 is being felt as well as the beginning of the shortage of semiconductors for the automotive sector", explains the CCFA.

But above all, "the French keep their savings and postpone their heavy purchases," adds François Roudier of the Committee of French Automobile Manufacturers (CCFA), who expects "a rather bad first quarter, a not very good first half, and a relaunch in the second half of the year.

“To this, car rental companies whose activities are down are waiting to renew their fleet.

In total, over the first two months of the year, the market posted a decrease of 14.24% compared to the period from January-February 2020.

Box of hybrid vehicles, all electric in decline

In this gloom, sales of hybrid cars (combining gasoline and electric) now represent more than 23% of the market, an increase of almost 70% in February.

With 30,198 registrations, these models are now almost on par with diesel cars.

On the other hand, sales of 100% electric vehicles fell slightly after a sharp increase in 2020, with 8,424 registrations in February, a decrease of -11%.

Another significant fact this month.

The used vehicle, which has been holding up well in recent months, is down by almost 8.5%, with 453,407 vehicles registered, against 495,627 in February 2020. This drop is particularly spectacular for used vehicles from less than a year with a collapse of 42% (31,637 registrations).

Source: leparis

All business articles on 2021-03-01

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