New fall for the automotive market in France

No rebound for the auto market, which continues to plunge in February. And this time, it is both new registrations and used vehicles that stumble.

It is still the small form for the French automobile market, which recorded in February a drop in registrations. For the seventh consecutive month … Last month, 132,637 new units were sold, which is 21% less compared to the same month of 2020. In this slump, French manufacturers are not working miracles, they are even worse than average: -25.64% for Stellantis (PSA and Fiat Chrysler), -22.33% for the Renault group. But the big foreign brands are not doing much better: Volkswagen and BMW are down 20%, while Toyota manages to float with -9%.

French manufacturers struggling

Among the rare satisfactions of the month of February, we especially remember the sales of hybrid cars: with 30,198 new registrations, this segment represents 23% of the market. And it has increased by 70% year over year. On the other hand, it is less good for 100% electric cars, with only 8,424 new registrations (-11%). More worryingly, used cars stumbled in February as it was a market that had held up fairly well so far: 453,407 vehicles changed hands last month (-8.5%).

Saving rather than consumption

How to explain this situation ? According to the Committee of French Automobile Manufacturers (CCFA), “ the drop in orders in the second half of 2020 is making itself felt “. Furthermore, ” the French keep their savings and postpone their heavy purchases “. Added to this is the shortage of semiconductors for the entire automotive industry. Conclusion: the first trimester will be ” pretty bad “, The relaunch will await him the second half. Not encouraging as the economy needs to restart as quickly as possible.