Market Trends of france light commercial vehicles Industry
This section covers the major market trends shaping the France Light Commercial Vehicles Market according to our research experts:
Light Commercial Pick-up Trucks is the largest segment by Sub Body Type.
- The demand for various goods and services has been increasing across France. Many customers are dependent on light commercial vehicles, such as pickup and commercial vans, for better reach and because they are less cost-effective. As part of many commercial purposes, such as in many construction areas and residential purposes, a large number of pickup trucks are used for material movement. The government measures to encourage customers to buy electric LCVs have led to an increase in the sales of light commercial vehicles. These factors are expected to boost the sales of light commercial vehicles in France over the forecast period.
- The French government announced the provision of USD 8.8 billion packages to support the French automotive industry during the pandemic, including increased incentives for new electric LCVs, amounting to EUR 7,000, compared to EUR 6,000 previously provided. Due to the motivation from the government, many customers showed interest in buying electric LCVs in 2020 and 2021. These factors increased the sales of LCVs during that period.
- Many OEMs, such as Nissan, Mitsubishi, and Renault, formed a strategic alliance to fabricate 35 new segments of electric vehicles. The French and Japanese companies' strategic alliance will be investing EUR 23 billion for the next five years. A platform has also been prepared to plan and develop five common platforms: CMF-AEV, CMF-EV, KEI-EV, CMF-BEV, and LCV-EV, on which the majority of the upcoming EVs will be based.
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