BMI Remains Optimistic Of Recovery Despite A Downgrade In Forecasts

New passenger car sales in France fell 11.2% year-on-year (y-o-y), to 169,757 units, in April, a reversal from the 8.9% y-o-y rise in Q111, according to estimates from the country's autos association CCFA. BMI believes this is because Q111 benefitted from the effects of the 2010 scrappage scheme which was phased out in December 2010.

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