PARIS (Aug 1): French car sales slumped 35% in July as a semiconductor shortage curbed inventory in one of Europe’s biggest markets.
France recorded 115,713 passenger-car registrations for the month, the industry group Plateforme Automobile said on Sunday.
For the first seven months of the year, registrations rose 16% over the same period in 2020, when sales were depressed during the first wave of the pandemic.
The sluggish result is a further indication that Europe’s auto-industry recovery is slower than the rebound seen in the US and China. The latest data from the European Automobile Manufacturers’ Association showed almost two million fewer cars were sold in the region during the first half compared with two years ago.
Renault SA on Friday forecast disruptions in the supply of chips would curtail output this year by about 200,000 vehicles, double a previous estimate. It sold 1.42 million vehicles worldwide in the first half, down almost a quarter from the same period in 2019.
The caps on output have frustrated manufacturers like Volvo and Stellantis NV, the maker of Peugeot and Citroen brands that goes head-to-head in the French market against Renault.
“We are very sad to see we have a stellar order book and are struggling to deliver,” Stellantis chief executive officer Carlos Tavares told the Detroit-based Automotive Press Association in July.
- A global chip shortage is hitting carmakers at the worst possible time
- Computer chip shortage disrupts global car production
- How did we end up with this chip shortage?
- Thai domestic car sales may fall 5.3% this year: federation
- Chip shortage hits global automakers
- VW warns chip shortage threatens car production worldwide
- Ford closes German plant for 1 month as global chip crisis worsens
- VW, Audi cut German output on semiconductor shortage
- Ford shuts down a plant because it can't find enough computer chips
- Death of the rush-hour: Home workers fuel 35% fall in congestion during morning and evening peak times - as interactive graphic reveals how much traffic volumes shrank in 25 UK cities in 2020
- Unprecedented: Chinese car imports selling well in Vietnam
- Volkswagen operating profit drops by half in 2020
- UK and EU reach deal on Northern Ireland as Government DROPS controversial law breaking Withdrawal Agreement in key step towards a final Brexit deal - but PM warns he WON'T cave in on sovereignty
- Every adult could be vaccinated by the end of JUNE: Government hopes mass new rollout will see four to five million people get jabs a week - as French drugs firm is 'days away' from producing 60million doses in UK
- Britain records 1,243 more Covid deaths but cases drop AGAIN as PM mulls tighter lockdown taking aim at takeaways, click-and-collect and exercising with friends - with Nicola Sturgeon poised to unveil tougher rules for Scotland tomorrow
- VIETNAM BUSINESS NEWS JANUARY 21
- Lack of tiny parts disrupts auto factories worldwide
- For companies, breaking up with Trump is a delicate dance
- Volkswagen made $12 billion in 2020 despite the pandemic
- Turning corona corner, Volkswagen's profit falls less than feared
French July car sales drop 35% as chip shortage crimps supply have 474 words, post on www.theedgemarkets.com at August 1, 2021. This is cached page on Business News. If you want remove this page, please contact us.