New Scrappage Scheme Helps Restore Consumer Confidence

New car sales in France have responded positively to the government's new scrappage scheme for 2010, with January sales increasing an impressive 14% year-on-year (y-o-y), to 171,500 units, according to estimates from the Comité des Constructeurs Français d'Automobiles (CCFA). The rally, which continues the car buying spree initiated when the scrappage incentive was first introduced in 2009, reaffirms BMI's view that French consumers have remained fairly resilient to the global economic downturn.

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