Global chip shortage, COVID-19 pandemic weigh on French car market rebound

Global chip shortage, COVID-19 pandemic weigh on French car market rebound


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Stock Markets3 hours ago (Aug 01, 2021 04:50AM ET)

Global chip shortage, COVID-19 pandemic weigh on French car market rebound
© Reuters. FILE PHOTO: Stocks of new cars are parked in a lot, at Walon France automobile transport company in Hordain, northern France, May 26, 2020. REUTERS/Pascal Rossignol

PARIS (Reuters) -The global chip shortage and a new surge in COVID-19 infections are weighing on the prospects for a strong rebound by the French car market, the carmakers’ lobby CCFA-PFA said on Sunday.

The French association was until now betting on car sales growth in the range of 9-10%, but that could be toned down, a spokesperson for CCFA said.

“We think it might be difficult to achieve 1.8 million of sales this year,” the spokesperson said.

Last year, new French passenger car registrations fell to 1.65 million from 2.21 million in 2019 as the coronavirus pandemic brought car factories to a halt.

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