French car orders bounce back in Oct-newsletter
PARIS Nov 20 (Reuters) - French car orders rose more than expected in October, helped by new models, marketing initiatives and a low comparative basis last year, according to a dealership survey by trade publication La Lettre VN Auto K7.
Order for news cars in October were up 6 percent against the same period last year, marking the first rise since May, La Lettre VN said.
Brands which enjoyed a rise included Renault, Citroen, Volkswagen and Hyundai-Kia while Peugeot saw orders for new cars drop 6 percent, the newsletter said.
The momentary recovery, which comes amid volatile market conditions, is unlikely to reverse negative market trends seen in France since the summer and in Europe overall, La Lettre VN said.
"Except for the Ford network which is literally foundering, others are doing quite well," the newsletter said, citing a survey of 34 car distributors.
However, the newsletter said unemployment in many car industry sectors excluding manufacturing, had risen 4 percent , citing figures from the French national employment agency Pole Emploi.
Renault enjoyed an 11 percent rise in orders in October against a 30 percent drop the previous month, helped by demand for its recently launched Clio 4 model. However, Renault's low cost brand Dacia saw orders drop 1 percent.
Car orders for Citroen were up 21 percent last month against an 8 percent increase in Sept., boosted by its C3 model and premium DS range while Volkswagen saw orders rise 13 percent in October and orders for Hyundai-Kia cars rose 36 percent.
However, orders for Fiat fell 20 percent last month, for Ford they were down 14 percent and for Opel, part of General Motors, they fell 13 percent.