2023-12-04 07:53:33
The data for the month of November for our automobile market are mostly misleading. First, with the strong growth of electrics which have reached 20% market share. Will this energy take hold sooner than expected? Not so sure. In reality, November and December will be months of increase for electrics since customers and dealers anticipate the end of the bonus for many models.
“The market is recovering compared to 2022 (which remains the worst year since 1974). However, it is all the more relevant now to re-introduce the comparison to 2019 as the complications of COVID and component shortages which led to demand well above supply and which strained the 3 last years. The automobile market in France is going badly and this year 2023 makes us aware of the extent of the damage“. (Mobilians).
The Chinese in force, before 2024
What will be the fate of the MG4 in 2024? © MG
Moreover, as if by chance, it is these vehicles produced in China which are driving the market alone in recent weeks. : Tesla Model 3, Dacia Spring, MG4 and more at the Smart #1 margin. We should therefore not try to draw any conclusion on the real performance of electrics.
But even more worrying is the recovery of the French automobile market as a whole, which is not the fastest. Certainly, at the end of November, the cumulative number of registrations slightly exceeds that of 2022. But December might be a difficult month with 2 fewer working days. Above all, the growth share of leasing shows a certain “pauperization” of France which definitely no longer buys its cars.
Leasing, so “special”
Rental was previously mainly favored by professionals and fleets who saw it as a way to better control expenses by knowing in advance what they would have to pay each month. But in 2023, rental appeals to everyone. Individuals drove the automobile market in November, and in the process caused it to take off LOA and LLD which now represent more than 60% of new registrations! Never seen.
Rental is also, perhaps, a sign of the impoverishment of the country which is no longer able to access a new vehicle through a “hard” purchase. Attractive rents and aggressive leasing offers therefore attract individuals who must still accumulate bonuses and aid to see the first contribution reduced to zero, or almost. But often at the cost of a lowered requirement: rather than opting for a C segment model, the French fall back on the B, or even the “small” B.
Electric car rental: watch out for 24-month contracts!
The new 3008 already here
The new 3008, like the Scénic, started its career in November© Alex Krassovsky
In November, just over a hundred Peugeot e-3008s were registered in France. Demonstration and management vehicles, obviously. The lion SUV will, however, have its work cut out for it in 2024 with a direct competitor, the Renault Scénic. The Tesla Model Y, the best-selling electric vehicle in France, might see its sales decline.
November was also the first month of activity for other models: Toyota C-HR, BMW X2, Renault Scénic, and Mini Countryman electric.
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