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French July car sales rise in sign of stabilization

French passenger car sales rose 0.9 percent in July in a sign that auto demand may finally be stabilizing in one of the markets worst hit by Europe’s sustained slump.
Registrations rose to 150,248 cars last month, the CCFA industry association said in a statement today, with PSA/Peugeot-Citroen and Renault both in positive territory and Toyota surging 24 percent.
The upturn, helped by an additional sales day compared with July 2012, contrasts with the 9.7 percent drop in French car sales so far this year.
Renault’s sales increased by 4.7 percent while PSA’s volume was up by 0.9 percent. VW Group saw sales decline by 8.6 percent while Opel dropped 9 percent and Ford fell by 10.8 percent.
Fiat Group’s volume grew by 12.5 percent while an 18 percent rise at Hyundai offset a 7.4 percent drop at sister brand Kia.
Among luxury brands, BMW sales were up while Audi and Mercedes were down.
The latest monthly numbers suggest the French market is beginning to stabilize, CCFA spokesman Francois Roudier said, maintaining the association’s forecast for an 8 percent full-year decline.


