Nearly 100,000 conversion bonuses have already been used at least June, according to the National Council of Automobile Professionals, reveals Europe 1 Wednesday. This probably explains in part the 1.2% increase in registrations in June compared to the same period last year.

INFO EUROPE 1

The French automobile market recovered in June, increasing by 1.2% year on year, after months of free fall linked to the coronavirus health crisis, manufacturers announced on Wednesday. And the conversion premium, activated urgently to support the automotive industry, is probably not for nothing. According to information from Europe 1, almost 100,000 conversion bonuses were already used in June, while there were 200,000 available at the start, according to the latest data from the National Council of Professional Professionals. automotive (CNPA). 

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Between 15 and 20% of transactions

Since June 1, against the scrapping of a vehicle deemed very polluting, buyers of new or used vehicles can receive 3,000 to 5,000 euros thanks to the new conversion premium. Manufacturers were thus able to start destocking their new cars immobilized during confinement, even if second-hand vehicles were also in high demand. A relief that could be short-lived because, at this rate, the device will certainly be finished before the start of the school year.

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Conversion premiums have represented between 15 and 20% of transactions since the launch of the device on June 1. The relaxation of the criteria to benefit from it has worked: the 2018/2019 scrappage bonus was running at a rate of 10,000 per week: it is now twice as much.  

"A rate of 20,000 bonuses per week"

"We are on a rhythm of 20,000 bonuses per week, explains Christophe Maurel, president of the dealers within the CNPA. According to our estimates, the device would end - within the limit of 200,000 scrapped vehicles - between August 10 and 25 ", he adds. 

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The manufacturers welcome these figures. June was the month of market recovery. Without a long-term guarantee, of course, but at least it is a relief to see customers in dealerships, especially thanks to this conversion premium. "It shows the importance of these recovery processes," said Vincent Cobée, general manager of Citroën.

"We see a very significant effect in the orders we have taken in the past two weeks," he observed. And if the CNPA estimates the end of these 200,000 conversion bonuses within five to six weeks, professionals hope an extension of the device, even in a different form.