The French automobile market recorded a slight increase in the first half, driven by hybrid models, but the second half promises to be bleak, according to data published on Monday, July 1, by the Automotive Platform and the company AAAData.
During the first six months of 2024, with 914,890 registrations, the French new passenger car market has increased by 2.82% in raw data compared to the first half of 2023. Hybrid and electric models lead the market with +25% respectively and +15%. % in sales, according to AAAData, and 38.7% and 17.4% market share.
But car sales are not recovering to pre-Covid levels and “the curve is flattening, since April we have lost market momentum,” stresses Julien Billon of AAAData.
After the month of May, the month of June effectively records a second consecutive decline, with -4.79% and 181,000 vehicles sold to individuals, according to PFA figures.
While sales of petrol and diesel models are declining, June also marks a slowdown in sales of electric vehicles, down 11% over the year (-2.3% if we take into account two additional working days in June 2023).
Slowdown in electricity sales
The decline in the market is related in particular to the “wait and see” attitude of individuals and companies, who want cheaper electric models adapted to their uses, especially in the compact categories.
In addition, sales of electric vehicles are being held back by new EV purchase bonus criteria, which exclude successful models made in China, such as the Tesla Model 3, MG and Dacia Spring. And the momentum given by “social leasing” in early 2024 should soon lose steam.
In this context, the second half of the year is expected to be low and the year 2024 should remain below 1.9 million sales.
The Peugeot 208 remains the best-selling model
Among manufacturers, the Toyota group, pioneer of the hybrid, obtained good results in the first half with an increase of almost 30% in its sales and 68,485 units sold. The Volkswagen group also advanced 8.45% with 128,930 units, driven by its Skoda, Seat and Cupra brands.
French groups are not experiencing the same dynamic: number one, Stellantis, suffers a drop of 0.2%, with 260,592 units, affected in particular by the drop in sales of Peugeot and DS.
The Renault group advances slightly (+0.5%), despite the drop in Dacia sales. The Peugeot 208 continues to be the best-selling model to individuals in the first half, ahead of the Renault Clio and the Dacia Sandero.
Source: BFM TV
