France: New car sales down 16.1pct in May [table] image

New car sales in France fell again in May according to the CCFA – Comité des Constructeurs Français d’Automobiles.

In May there were 165, 776 new vehicles sold in France, 16.1% fewer than a year earlier in nominal terms. For the first five months of the year, registrations were down 17.2% on the year or 15.6% lower in workday-adjusted terms.

Sales of foreign-brand cars suffered a 12.2-percent drop.

French auto giant PSA Peugeot Citroen saw its sales down by 33.2 percent over the period to 59,290 vehicles. New car sales of automaker Renault fell by 29.8 percent, and sales of low-cost brand of Dacia reported a heavy loss of 57.2 percent.

Situation in France is in the red area.
The European Commission warned France on Wednesday it faced big challenges to bring its budget deficit down to within EU-mandated limits next year and called on Paris to push through economic reforms and show “renewed resolve” to cut joblessness.

France had more jobseekers in April than any time this century as numbers rose for the twelfth month running, and the labour ministry said it was braced for more layoffs in the months ahead.
France has lost more industrial jobs than any other European country over the past decade and labor unions expect companies including Arcelor, Carrefour, PSA and EON France to cut as many as 45,000 jobs in the months ahead.

In the euro area, 17.4 million people were unemployed in April, up 110,000 from the previous month, today’s report showed.