April Sales in France Down 35.7% for Peugeot and 23.7% for Renault image

During the first quarter PSA Peugeot Citroen and Renault’s production fell due to slowing demand in Europe.

According to industry group for automakers CCFA Peugeot’s production in France fell 35.7% during the first three months of the year compared with the same period last year and by 18.8% outside its home market. Renault’s production in the domestic market fell 23.7% and 7.9% on a global scale, the loss being partially offset by its Romanian low-cost brand Dacia.

“The plunge seems to be halting after the double-digit declines of previous months,” CCFA spokesman Francois Roudier said.

Auto sales in France were down 5.2% in April to 157,859 units. During the first four months of the year sales decreased 12.3%, from a fall of 16.4% in March. Italy also continues to be affected by the European crisis with sales down 10.8% in April.

“If this trend continues, we could end the year at 1.1 million units, which would mean a decline in revenue for the sector of 15.9 billion euros,” Italian car dealers’ association Federauto said in a statement.

Fiat reported an increase of 4.6% in registrations in April, due to a 15.5% rebound in sales for the new versions of its 500 small car. VW also increased 4.4% due to its Golf compact, Hyundai and Kia were up a combined 17.3%, GM dropped 18.8% and Ford fell 16.8%.

Source: Yahoo Finance