While the COVID-19 pandemic is far from over, France might just have witnessed a return to normalcy as far as the car market is concerned. Car sales in the country plummeted to a new low in April, as the country witnessed an 88 percent drop in demand.
An automobile study carried out by La Plateforme reveals that sales in the auto industry of France for June are just at par with the sales during June of last year. The monthly figures were published by La Plateforme and its Director General Marc Mortureux during the month of July.
“We remain cautious because the last days of the month are very important, but there are clear signs of a restart,” Mortureux said in an interview. “After catastrophic months of March, April and May, the month of June is shaping up to be near normal at last year’s level, which was in itself relatively high.”
While orders are almost near normal, the Director General believes that the current French car industry production levels are still at 60 percent of what they were before the crisis. Still a 50 percent increase from the 40 percent they were at during the last month.
YouTube Link: https://www.youtube.com/watch?v=bRq6IA0Cno8
Corona is at play and the world seems to be suffering at its hands. Almost all financial, sporting, business and other activities have come to a standstill because of the impacts of COVID-19. While the virus has struck hard all over the world, Europe seems to be hit the most by it. France, Spain, England, Italy and Netherlands are all reeling from it.
The repercussions of COVID-19 include a lockdown across all countries of Europe. What this has meant is that there is little to no financial and business activities happening around.
The impact of the virus was also felt by the French car registration agencies. French Car Manufacturers PSA reported that their car registrations fell by a massive 73.43 percent in March. This is a record fall and is a severe shock to the embittered manufacturers.
PSA is responsible for making cars for the Peugeot and Citroen brands. Additionally Renault also reported a 71.6 percent drop in their registered vehicles. This total drop will harm the economy as consumers have literally altered their spending patterns.
Whether the world ever comes out of the COVID-19 pandemic is yet to be seen, but what we do know is that the French Car industry is suffering damage beyond repair.
YouTube Link: https://www.youtube.com/watch?v=NUBL2IlORFU