Europe: France sees car sales dipping 4 percent in May image

Last month’s delivery quota could be a first sign that Europe’s much anticipated rebound is creeping to a halt once again, but the French registration data actually carries an editor’s note.

New car sales in France sloped 4 percent year-over-year last month, triggering the first negative result since December 2014, but analysts and industry experts put the slump mostly on the fact that May this year counted fewer working days than in 2014. On the other hand, both domestic automaker didn’t manage to have the results seen by foreign competitors, with PSA Peugeot Citroen hit harder by the slump than local rival Renault. According to the data provided by the CCFA, France’s auto maker association, if the figures are adjusted to show the same number of working days as there were last year, sales would have jumped 7.3 percent. The CCFA also stuck to its earlier prediction that overall deliveries this year across the French market would soar 2 percent.

The CCFA reported that auto sales last month reached a total of 143,059 units on a reported basis. Peugeot had a massive slide of 12.8 percent last month, without being seasonally adjusted, while the Citroen brand performed even worse, down 16 percent and the luxury DS brand falling 44 percent. Renault saw a slide of 3.1 percent for its namesake brand and was down 10 percent at its affordable Dacia brethren. So far through the first five months of the year sales in France inched up 3.8 percent to a tally of 791,143, thanks to rising consumer demand.

Via Reuters