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