Scrappage scheme boosts French car sales

03/08/09 20:42 CET

economy

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Sales of new cars in France rose in July, boosted by the Paris government’s scrappage programme under which drivers get a cash bonus when they trade in their old vehicles for a new model. Total sales were up 3.1 percent.

French-made cars gained12.4 almost twelve and a half percent compared to a drop of 5.6 percent for foreign makes. Almost 189,000 new vehicles were registered. The biggest increase was for Renault – 18.5 percent. Last week Renault posted a worse-than-expected first-half net loss of two point seven billion euros. Sales at France’s biggest carmaker PSA Peugeot Citroen increased by 11.4 percent in July compared to the same month last year. Its first-half net loss was 962 million euros. Light utility vehicle registrations, which are not part of the French scrappage incentive scheme, fell 22 percent.More about: Car industry, France

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