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Global chip shortage, COVID-19 pandemic weigh on French car market rebound By Reuters

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© Reuters. FILE PHOTO: Shares of latest automobiles are parked in loads, at Walon France vehicle transport firm in Hordain, northern France, Could 26, 2020. REUTERS/Pascal Rossignol

PARIS (Reuters) -The worldwide chip scarcity and a brand new surge in COVID-19 infections are weighing on the prospects for a powerful rebound by the French automobile market, the carmakers’ foyer CCFA-PFA stated on Sunday.

The French affiliation was till now betting on automobile gross sales development within the vary of 9-10%, however that may very well be toned down, a spokesperson for CCFA stated.

“We expect it may be troublesome to realize 1.8 million of gross sales this yr,” the spokesperson stated.

Final yr, new French passenger automobile registrations fell to 1.65 million from 2.21 million in 2019 because the coronavirus pandemic introduced automobile factories to a halt.

An absence of essential semiconductors and uncertainty surrounding the novel coronavirus pandemic are affecting most automakers, together with French carmaker Renault (PA:) and its Franco-Italian arch-rival Stellantis.

New automobile registrations in France plummeted by about 35% in July from the identical interval a yr in the past, based on knowledge issued by CCFA-PFA late on Saturday.

Registrations of latest passenger autos totalled 115,713 final month, CCFA stated. The French automobile market is up by about 16% over the primary seven months of the yr in contrast with the identical interval in 2020, the affiliation stated.

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