France car registrations slide 11.4% in August

Gasgoo From Reuters

Reuters (Paris) - Car registrations in France extended their decline in August, falling 11.4 percent ye ar-on-year - th e te nth straight monthly drop - a s consumers cut back on major purchases amid slumping growth and rising unemployment.

French registrations fell 13.4 percent in the January-August period, the French CCFA automakers' association said on Monday.

August was marked by further weakness at France's domestic car makers, as Renault saw registrations dwindle by 20.6 percent and its larger rival PSA Peugeot Citroen by 10.6 percent.

The sales slide at Paris-based PSA, which is cutting more than 10,000 jobs and closing a plant to stem mounting losses, was deeper for its Citroen brand, which lost 19 percent of sales compared with the same period in 2011, compared with a 3.4 percent slide for Peugeot.

Renault's plunge was softened by a 21.1 percent hike in sales of its low-cost range Dacia, which is built in Romania and Morocco.

South Korea's Hyundai and affiliate Kia bucked the downward trend with rises of 31.4 percent and 18.7 percent respectively.

Fiat and U.S. automakers continued to lose ground in France, recording declines of 13.3 percent for General Motors, 43.2 percent for Ford and 32.2 percent for the Italian group.

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