Car Sales in France Slump to 15-Year Low

New-car registrations in France fell 14% to 1.9 million units last year, their smallest volume since 1977, according to CCFA. The industry group says year-in-year demand dropped almost 15% in December.

CCFA predicts sales in 2013 will "at best" match last year's level and are likely to decline if France's economy deteriorates further.

Domestic sales last year by France's two primary carmakers, PSA Peugeot Citroen and Renault SA, fell an estimated 18% to 1.4 million units and 22% to 992,600 units, respectively. The two companies continue to account for slightly more than half of all car sales in France.