France car sales slump in 2012
(01-02 19:24)
Sales of new vehicles in France reported 15-year worst drop after shrinking by 13.9 percent due to uncertain economic growth and weakening purchasing power that kept consumers on edge, French car sales federation said on Wednesday.
In 2012, car sales stood at 1,898 million units compared to 2,204 million vehicles a year earlier, the federation said in its monthly report, Xinhua news agency reports.
French car manufacturers ended 2012 on negative note with sales falling by 19.4 percent with Renault, France's second-largest manufacturer posting a 22.1-percent decline in sales. Peugeot Citroen also reported a heavy loss of 17.5 percent.
Following a limp global economy, non-French brands lured less clients with their sales reportedly decreasing 5.7 percent to 900,851 units last year.
In face of sluggish car industry and alarming deteriorating competitiveness, French government decided to take measures to reinforce production of environmentally-friendly vehicles through an auto sector rescue package.
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