CNPA, the French automotive trades affiliation that additionally represents sellers, famous that the federal government has declared the coronavirus disaster to be a scenario of "power majeure," which means that contractual obligations could also be waived in lots of instances.  

French sellers are sitting on about 4 months' price of inventory, each registered and unregistered, representing a money tie-up of seven billion euros to 10 billion euros ($7.5 billion to $10.7 billion), CNPA President Francis Bartholome informed the French automotive web site Autoactu.

Bartholome mentioned that discussions had been underway with automakers.

Renault Retail Group mentioned it's working with sellers to make sure they continue to be solvent.

The Renault subsidiary has a community of 275 shops and sells about 20 p.c of all Renault Group automobiles in Europe, together with price range model Dacia.

A spokeswoman mentioned the main points had been nonetheless being labored out, however that Renault's banking arm, RCI, was concerned within the discussions, with each company-owned and unbiased...