Economy, Auto
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French Car Sales Rise 15% in June

French Car Sales Rise 15% in June French Car Sales Rise 15% in June

French new-car sales jumped 15% in June as two extra working days helped lift registrations.

Sales advanced to 225,645 last month after their biggest monthly gain in four years, with Volkswagen Group and PSA/Peugeot-Citroen keeping pace with or beating the broader market. Adjusted for the effect of the two extra sales days compared with June 2014, underlying sales growth rose 4.5%, the CCFA industry association said, Reuters reported.

VW's group sales surged 23%, before adjustment, with the group's namesake brand and premium Audi mark leading gains.

PSA posted a 15% sales increase led by the Peugeot brand, while domestic rival Renault's sales rose 8.7%. Sales of the Renault group's no-frills Dacia models surged during the economic crisis but have slowed amid signs of a recovery.

Delivery van sales rose 11% in June, the CCFA said, taking the gain in overall light vehicle registrations to 14% or 3.9% adjusted for the extra sales days.

French new-car registrations for the first half of 2015 were up 6.1 percent to 1.01 million.

The boost in sales in France is down mainly to low interest offers from dealerships, as well as large corporate fleets being upgraded during the summer period.

Historically, car sales in France have always picked up through the summer months, as buyers tend to use their vehicles more for holidaying as well as touring.

The French figures follow a wider general trend occurring in Europe's more established automotive markets. Recent figures from Britain also suggest an upswing in the purchases of new vehicles through the summer period.

 

Financialtribune.com