Sales fillip for French car market 21st December 2004
The French car market enjoyed a rise in sales during November, according to the latest figures from the Paris-based statistics agency Insee.
The government-backed organisation revealed that total household spending in the region rose by the biggest margin in five months, with the automotive market one of the key beneficiaries of the increase in expenditure.
A 7.4 per cent increase in the number of cars bought helped push up total spending figures, as new models and efforts by the French minister Nicolas Sarkozy to boost spending appeared to bear fruit.
The French car manufacturer Renault saw its sales rise by 23 per cent compared to 2003, with chief financial officer Thierry Moulonguet expressing confidence in the market in an interview with Bloomberg.
Mr Moulonguet said he had "no worries" about hitting company sales targets.
Insee is expecting the French economy will expand by 0.6 per cent in the coming quarter, with consumer spending tipped to continue to rise.
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