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French car market shrinks by 14 per cent in November

Paris - The registration of new private cars in France fell by more than 14 per cent year-on-year in November, confirming the onset of a crisis in the sector, the online edition of the daily Le Figaro reported on Monday. According to the Committee of...
Posted : Mon, 01 Dec 2008 14:27:16 GMT
Author : DPA
Category : Business
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Paris - The registration of new private cars in France fell by more than 14 per cent year-on-year in November, confirming the onset of a crisis in the sector, the online edition of the daily Le Figaro reported on Monday. According to the Committee of French Car Makers (CCFA), 145,918 new vehicles were privately registered last month, a drop of 14.4 per cent over November 2007.

In addition, French domestic car sales fell by 9.7 per cent last month, while foreign car sales in France plunged by more that 18 per cent.

On Thursday, President Nicolas Sarkozy is to announce a plan to help French industry through the economic crisis. The proposal is expected to focus on the French car and housing sectors.

Speaking in Tokyo, Renault head Carlos Ghosn warned that there would be "massive job losses" in any country that did not come to the rescue of its automobile industry.

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