New car orders in France fell 11.5% in October - CCFA | The Financial Express

New car orders in France fell 11.5% in October – CCFA

There was an 11.5% drop in new car orders, the indicator published on the CCFA website showed.

New car orders in France fell 11.5% in October – CCFA
There was an 11.5% drop in new car orders, the indicator published on the CCFA website showed.

New car orders in France fell again in October, according to data published by the French carmarkers’ committee CCFA on Wednesday.

There was an 11.5% drop in new car orders, the indicator published on the CCFA website showed, despite an increase in orders taken at the Paris Motor Show in October and following a 1.3% fall in September.

“There is a very large backlog of orders that manufacturers have not been able to deliver because of malfunctions on semiconductor supplies, so the next few months will not be bad in terms of registrations,” said Flavien Neuvy, economist and director of the auto-industry think tank Cetelem.

New car registrations in France have risen for three consecutive months, with a 5.45% increase for October, according to Plateforme automobile (PFA) data published on Tuesday, reflecting deliveries of previously accumulated orders.

“On the other hand, we are seeing a fairly significant slowdown in order intake,” Neuvy added.

“Purchasing power in Europe is being strongly impacted by inflation, while car prices continue to rise. In this context, individuals are forced, when they can, to postpone their plans to change cars and keep their vehicles for another six months or a year.” 

Also Read: Demand in fast lane, luxury car sales close to 2018 peak

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First published on: 03-11-2022 at 10:51 IST