Thanks to Dacia registration increasing, Renault limited its fall

Despite the fact that France reported falling new car sales in October, thanks to 6.8 percent rise in its low-cost brand Dacia, Renault limited its fall to 0.4 percent.
According to Comité des Constructeurs Français d’Automobiles – France’s Car Sales Federation data, with 160,162 units offered last month, the French auto market saw sales down by 3.8 percent while for January-September, sales turned positive after reporting 1.4 percent rise.
Dacia brand new car registrations grew to 7755 units compared to 7260 units in October 2013. As to PSA, the French leading car manufacturer, last month ended with a grim note after its sales went down by 2.2 percent to 51,188 units compared to October 2013.
France, whose auto industry has been in tatters due to feeble demand and unfavorable business climate, wants to promote green cars to return to pre-crisis level and inject dynamism into the domestic anemic auto market.
The association has said it expects the country’s car maDaicrket to grow a little faster than 2 percent this year after four consecutive annual declines as consumers were under pressure from rising taxes, mounting unemployment and eroding purchasing power. Car sales in 2013 hit a two-decade low.
Renault reported a 7 percent increase in revenue in the third quarter, boosted by higher demand for budget Dacia models in its home region. Revenue rose to EUR 8.53 billion from EUR 7.99 billion a year earlier, Renault said. Renault sold 612,934 units in the third quarter, unchanged from a year earlier, it said. Growth was propelled by the low-cost Dacia brand’s Duster SUV and Sandero subcompact hatchback as well as the Renault brand’s Captur small SUV.

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