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France’s Car Market Hits 15-Year January Low With Sales Down 6.55% as EVs Reach Record 28%

Analysts attribute the record EV share to incentives, notably the social-leasing scheme, rather than sustained demand.

Overview

  • PFA reported 107,157 new passenger-car registrations in January, about 7,500 fewer than a year earlier.
  • Excluding the 2022 semiconductor shock, it was the weakest January in 15 years, with nearly 48,000 fewer registrations than in January 2019.
  • Battery-electric vehicles captured 28% of the market, a new high linked to purchase subsidies and a time-limited social-leasing program.
  • Manufacturer results diverged: Stellantis fell 2.7% with Citroën up 2.8% and Peugeot down 8.2%; Renault Group rose 1.1% with Renault up 20.7% and Dacia down 33.9%; Toyota slid 15.5%.
  • AAA Data also pointed to company-fleet electrification, and it ranked the Renault 5 as the top EV by registrations ahead of the Renault Scenic and Peugeot 208.