The month of October 2024 is hardly smiling on the French automobile market. With a notable drop in registrations and a strong disparity between manufacturers, this period reveals contrasting trends between thermal, hybrid and electric.
A general drop in registrations: Stellantis in difficulty, Volkswagen growing
In October 2024, the French automobile market recorded 135,529 registrations, a decrease of 11.06% compared to October 2023. Stellantis suffered this decline hard with a fall of 20.47%, almost double the market average. Citroën (-35.93%), Opel (-37.09%) and DS (-16.70%) recorded sluggish performances, while Peugeot limited the damage with a more moderate drop of 8.66%. On the other hand, the Volkswagen group stands out with an increase of 10.86%, driven by brands like Skoda (+23.97%) and Seat (+13.26%). This success of the German group can be explained in particular by an aggressive pricing repositioning strategy, aimed at strengthening the attractiveness of electric and thermal vehicles among French consumers.
While thermal vehicles are in decline, the electric ones are struggling to take over. In October 2024, their market share fell by 18%. The Citroën e-C3, helped by this measure, is the best electric seller of the month, but this is not enough to stop the downward trend. Public support for the electricity sector could be reviewed, given the pressure on public finances, thus limiting the growth of sales in this segment. This situation benefits hybrid vehicles, which now represent 50% of the market, testifying to a real enthusiasm among buyers for more versatile models.
French automobile market: Toyota and BMW booming
In a context of crisis, certain foreign brands are doing well. Toyota, in particular, saw its sales increase by 19.43%, a remarkable performance due in large part to its hybrid range, leading sales with the Yaris and Yaris Cross. BMW also stands out with an increase of 20.23%, although the Mini brand shows a sharp decline.
The outlook for the French market remains gloomy for the end of 2024, with a cumulative decline of -2.75% over the first ten months compared to 2023. Short-term forecasts hardly announce a recovery, but a glimmer of Hope could be on the horizon for 2025. According to data from AAAData, order books show an increase of 7% between January and September 2024, a sign that the market could rebound thanks to postponed demand and potentially reinforced by the reintroduction of social leasing.
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