Over the first six months of 2024, with 914,890 registrations, the French market for new passenger cars increased by 2.82% in raw data compared to the first half of 2023, according to data from the Automotive Platform and the AAAData firm.
In detail, hybrid and electric models drive the market with respectively +25% and +15% in sales, according to AAAData, and 38.7% and 17.4% market shares. But automobile sales are not returning to their pre-Covid values and “the curve is flattening, since April, we are losing market dynamics », underlines Julien Billon of AAAData.
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Indeed, after May, June shows a second consecutive decline, with -4.79% and 181,000 vehicles sold to individuals, according to PFA figures. While sales of petrol and diesel models are down, June also marks a halt for electric sales, with -11% over one year (-2.3% if we take into account two additional working days in June 2023). In this context, the second half of the year is expected to be down, and the year 2024 should remain below 1.9 million sales.
« Wait-and-see attitude ” individual
The decline in the market is notably linked to “ wait-and-see attitude » individuals and businesses alike, who would like cheaper electric models that correspond to their uses, particularly in the compact categories.
Many models of electric cars under 25,000 euros should also arrive on the market in the coming months, making this technology more affordable for households. Hyundai has already presented its future small electric car, the Inster. Between the end of 2024 and the year 2025, the Renault 5, Citroën C3, Fiat Panda or Volkswagen ID.2 will slowly open the doors of electric cars to the middle classes.
With possible purchase bonuses and scrappage premiums, these vehicles fall below the 20,000 euro mark, or from 99 euros per month for long-term rental. They offer still limited ranges, around 300 kilometers, but better than those of the first low-end electrics, such as the Dacia Spring.
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Chinese cars in the spotlight
In addition, sales of electric vehicles are slowed by the new criteria for the purchase bonus for electric vehicles. They now exclude successful models made in China, such as the Tesla Model 3, MG and Dacia Spring. And the boost given by the ” leasing social » early 2024 should soon run out of steam.
The European automobile market could also be turned upside down with the recent announcement of new customs duties on imports of Chinese electric vehicles. The Commission plans in particular to increase customs duties on vehicles manufactured in Chinese factories.
French groups in difficulty
Among the manufacturers, the Toyota group, pioneer of the hybrid, performed well in the first half with an increase of almost 30% in its sales, and 68,485 units sold. The Volkswagen group also progressed by 8.45% with 128,930 units, driven by its Skoda, Seat and Cupra brands.
The French groups are not experiencing the same dynamic: number 1 Stellantis is experiencing a drop of 0.2%, with 260,592 units, affected in particular by declines in sales at Peugeot and DS. The Renault group is up slightly (+0.5%), despite a drop in sales at Dacia. The Peugeot 208 remains the model best sold to individuals in the first half, ahead of the Renault Clio and the Dacia Sandero.
(With AFP)
