French and Italian Car Sales Facing Worsening Slump

There is no good news coming from Italy or France in terms of auto sales this year. Both countries are reporting some of the worst sales all year. 

In France, the French Automotive Manufacturers Committee (CCFA) reported that French auto sales were down 19.2% in November, which is the worst in 15 years, and down 13.8% for the year so far to 1.73 million cars sold total. 

Domestic automakers were particularly badly hit. RenaultRenaultFrance, 1898 > present189 models
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sales were down 33.5% for November and PSA PeugeotPeugeotFrance, 1882 > present120 models
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-CitroënCitroënFrance, 1919 > present94 models
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sales were down 22.9%. Even imports took a tumble as NissanNissanJapan, 1932 > present159 models
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fell 29.4%, GMGMUnited States of America, 1998 > present8 models
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25.8% and FordFordUnited States of America, 1903 > present92 models
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21.4%.

There were still some winners during the month. HyundaiHyundaiRepublic of Korea, 1967 > present79 models
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sales were up 20.5% in France in November. MercedesMercedes-BenzGermany, 1924 > present197 models
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was up 18.5%, BMWBMWGermany, 1918 > present87 models
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up 4.2% and AudiAudiGermany, 1909 > present83 models
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up 1%. 

Forecasts indicate that the French auto industry will have declined by 13%-15% this year in terms of sales and total sales will be below 1.9 million cars, which are 1997 levels. 

Things in Italy are nearly as badly off. Sales were down 20.1% for November and down 12.39% for October. 

Investors are hoping that Italian elections in 2013 will boost confidence and lead to higher automotive sales. 

Source: Automotive News Europe (1, 2)