French car sales have plummeted to new lows, as they fell for the 10th month of the row. The car sales for French car in France fell by 10 percent during the month of May. This is the 10th month on the trot that car sales within France have failed to register any significant gain.
The spring season is supposed to be good for the sales of new cars, but this year, we haven’t seen any such trends. The year 2022 hasn’t been good for car sales in the nation of France, as car sales have only been going down.
The semiconductor shortage across the world has led to slow deliveries in the country. The market for French cars has fallen down by over 16.92 percent during the year alone. Additionally light commercial vehicles have seen a fall of 25 percent, which is unprecedented. No other year saw such depleting levels of financial activity, besides 2020, which was marred by the onset of the COVID-19 pandemic.
The falling sales can be accredited to rising costs of living, with many people shying away from luxuries. Automobile manufacturers also predict that consumers are waiting for better options in the hybrid market to invest in them.
YouTube Link: https://www.youtube.com/watch?v=S4kjokRL3MQ
Sales in the French car market slumped by a massive 35 percent as a semiconductor shortage curbed inventories in one of the biggest markets in Europe. French car manufacturers had limited access to semiconductor chips, which are an integral part of electronic cars.
French manufacturers recorded some 115,713 passenger cars sold during the month of July, as per reports from Plateforme Automobile. While the sales show an increase of some 16 percent from where they were during the same time last year, because of the first wave of the pandemic, they have also witnessed a decrease of 35 percent from the full capacity sales of 2019.
The sluggish results are also an indication that recovery for auto manufacturers is slow within Europe compared to the trends seen in the United States and China. A recent report from The European Automobile Manufacturers Association showed that over 2 million fewer cars were sold within the region during the first half of this year than during the same period 2 years ago.
The recovery itself is slow due to restricted customer interest, but supply chain hassles, like the global chip shortage of today, have restricted sales to a certain level.
YouTube Link: https://www.youtube.com/watch?v=tl3GegKr_xw