Romanian car brand Dacia, owned by Renault, was ‘the lone bright spot’ for the French brands. Dacia sales grew 2.7 percent in 2014 and have grown 16.8 percent during the first 11 months of the year, Wall Street Journal informs quoting French car manufacturers association data.
The low-end segment of the market, “will continue to grow across Europe,” said Patrick Blain, the president of the association, though Dacia’s market share gains will likely slow as other brands become more popular.
French car manufacturers lowered their forecast for a sales rebound in their home market on Monday after new passenger car registrations fell again in November.
The French car manufacturers association said new car registrations for 2014 will now rise by around 1percent from 2013, and grow by 1.5 percent in 2015 from 2013. The association had previously forecast an increase higher than 2 percent in 2014.
“We’re seeing a stability in the market. We’ve hit the bottom,” said Blain, continuing: “But growth will remain small.”
French car makers were particularly hard hit in November, with new registrations for cars produced by PSA Peugeot Citroën SA, France’s largest automotive group, falling 8.9 percent, while Renault SA ’s sales fell 5 percent.