Ford Reports Steepest Decline in February Car Registrations in France image

Ford reported the steepest fall in French sales in February as the crisis continues to affect demand for new vehicles.

In February total car registrations in France fell 12% to 143,366 vehicles, compared with February 2012, according to CCFA industry association. Ford’s sales dropped 33% to 9,309 vehicles, the largest decline among major automakers. PSA Peugeot Citroen reported a decline of 15.5% to 41,033 vehicles, while Renault announced a fall of 11% to 35,156 vehicles, with Renault brand down 19.5% and Dacia up 37%.

VW group reported a decline of 7.5% to 20,089 vehicles in February, with its French market up 14.1% for the first two month of 2013, compared with 13.8% during the same period last year. Hyundai-Kia managed to reach an increase of 5% to 5,373 vehicles, due to a 24% rise for Hyundai vehicles, which made up for Kia’s 10% loss.

According to Morgan Stanley the February decline offers an annualized selling rate of 1.82 million, an increase from the 1.65 million previously reported in January. In January, 124,952 vehicles were sold in France, a decrease of 15% compared with the same period in 2012, according to sector group CCFA. In 2012 sales fell almost 14% to 1.9 million vehicles, the lowest level seen over the past 15 years.