With 135,529 new vehicle registrations in October, the market fell 11.1% year-on-year. The drop even reached 28.29% compared to October 2019, according to figures from PFA (automotive and mobility sector).
In the first ten months of 2024, with 1,401,436 registrations, the French market for new passenger cars has decreased by 3% year-on-year, “an example of a market that is settling into a new normal with volumes reduced compared to its historical levels”, comments AAA Data. Compared to 2019, in ten months, the drop reached 23.43% in raw data.
The decrease in October “is more pronounced in the corporate segment, with -18%. As for individual purchases, the decrease is limited to -7%,” says AAA Data.
waiting for electricity
“Market dynamics still suffer from an unfavorable base effect in 2023 that should not obscure the current reality. In fact, the year 2023 ended with car order volume falling 9% compared to the previous year, which is reflected in 2024 registrations, and suggests that the cumulative market should underperform the year. above,” says Marie-Laure Nivot, head of automotive market analysis at AAA Data.
Electric vehicles are not spared, with sales falling 18% year-on-year and market share increasing to 15% compared to 17% in October 2023. According to AAA Data, this drop is driven by the attitude of wait and see what happens in The face of vagueness around the purchase voucher and the renewal in 2025 of the social lease of these vehicles.
Among the different engines, only hybrids increased (+19%), which currently represent almost one in two electric registrations compared to one in three in October 2023.
On the second-hand side, the market grew by +3.5% in October with 489,253 transactions and +4% since the beginning of the year with almost 4.5 million transactions.
Source: BFM TV
