French vehicles market dropped in August 2020 as the Government stops supporting demand with incentives on new EV purchases. Indeed, 101.629 units were sold in July (-21.8%), leading Year to Date sales to 982.828 (-32%). Ford (+4.8%) was the only gainer in the top 10, while the leader Renault (-33.6%) and Volkswagen (-54.8%) plummet.
Market trend in August
In June and July the French car market was one of the first in Europe to register a positive performance after the Covid-19 crisis. In August the market fell back to 101.629 units sold (-21.8%), leading Year to Date units to 982.828 (-32%). This drop happened because the generous stimulus generated in June for electric vehicles – which saved the french market- was heavily scaled back as it has already reached the planned 200.000 beneficiaries by the end of July. Nonetheless, we hoped the market would decline slowly, but unfortunately, it was a rather quick drop.
In the competitive landscape, Ford (+4.8%) was the only gaining brand in the top 10 in August, while the leader Renault dropped 33,6% and Volkswagen registered a free fall of 54.8%.
Post Covid19 Market Trend
A new era started in March for the entire World and the immediate effect of measures taken by the French government to counteract the spread of the virus blocked any commercial activity in the country. Indeed, from March 16, all dealers and plants have closed, ending the first quarter with 364.682 units sold (-34.2%).
The Government held restriction measures through the entire month of April, forcing car registrations to collapse 88.8% with 20.997 units sold, while in May the market reported an improvement, as car dealerships were able to reopen from May 11. Indeed, 96.310 units were sold in May (-50.3%).
New vehicle sales have improved, supported by the continuation of strong government incentives providing up to €19.000 to buyers of a new EV. Indeed, 175.584 units were sold in July (+2.9%), leading Year to Date sales to 881.213 (-33%).
President Emmanuel Macron announced an €8 billion plan to support the French car industry and sustain the country’s economy from the Covid-19 crisis. The plan includes subsidies for the purchase of “clean” vehicles – up to €7.000 for electric cars – while fostering the clean technology development.
President Macron’s hopes are to support car demand while making France the European leader in the production of electric vehicles, with an output target of 1 million a year by 2025.
Medium Terms Market Trend
French vehicles market was in a positive momentum since early 2015 and the Macron government active policy has corroborated the market pushing up consumer confidence and expectations.
Consequently, the car passenger sales level achieved in 2019 was the best in the decade and follows 6 years of consecutive growth, with 2.21 million units sold, up 1.9%.
However, in 2020, according to data reported by the French Associations of Car Manufacturers, the market had embarked on a negative pathway. Indeed, in Year-to-date figures in February have been 306.670, down 6.5% from last year.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.
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