Boston, MA -- (ReleaseWire) -- 04/11/2014 -- In 2013, vehicle sales in France declined 5.4% on the back of a 5.7% fall in the passenger car segment and 3.9% fall in the CV segment. In 2014, we forecast a 2.2% increase in vehicle sales. This comes from a 2% forecasted uptick in the passenger car segment, and 3.2% increase in commercial vehicle (CV) sales.
BMI believes rising unemployment, low consumer confidence and stagnant real wage growth have kept private consumption in the country subdued throughout 2013 and this has hit the car segment over the year to date. Passenger car sales resurged somewhat in the final months of 2013 despite this bearish outlook, on the back of low base effects and pent-up demand in the market, and this uptick is not a sign of a return in consumer confidence.
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