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The crisis in Europe is turning into a nightmare for French automakers. Casting dark clouds over the Paris Auto Show, the Comité des constructeurs français d'automobiles (CCFA) slashed its 2012 outlook to predict a 12% decline.
All sectors are affected, particularly industrial vehicles (-20.1% forecast), and while foreign companies reported sales drops in September, none fared worse than Renault AG (-33.4%). PSA Peugeot Citroën (-5%) is also down.
Due to the struggling economy and rising fuel prices, French families are postponing major purchases, according to a study by the French National Institute for Statistics and Economic Studies.
Source: Les Echos.fr
All sectors are affected, particularly industrial vehicles (-20.1% forecast), and while foreign companies reported sales drops in September, none fared worse than Renault AG (-33.4%). PSA Peugeot Citroën (-5%) is also down.
Due to the struggling economy and rising fuel prices, French families are postponing major purchases, according to a study by the French National Institute for Statistics and Economic Studies.
Source: Les Echos.fr