By Marcel Michelson and Helen Massy-Beresford PARIS (Reuters) - Carmakers will make fuel efficiency a sales mantra at the Paris auto show next week when they tout new models to a customer base whose numbers and budgets have shrunk in the face of financial turmoil and high oil prices. Tighter finances and new emissions rules look set to favor the sale of smaller models and engines, while the industry's revenue base may also be impacted by slowing growth in emerging markets, until recently a welcome outlet for European carmakers faced with a decline in maturer markets. Europe's mass auto makers, Volkswagen, PSA Peugeot Citroen, Renault and Fiat have all been forced to review their production plans and if the economic situation worsens there is a risk that the problems of the U.S. auto sector may spill over to them too. Citigroup last week cut its forecasts for 2008 and 2009, predicting 2008 will be the first year of volume declines in the global car market since 2001, with a drop of 1.1 percent. 'There's clearly a lot of nervousness about the 2009 numbers,' said Citigroup analyst John Lawson. 'I don't think there's a widespread feeling that 2010 will be worse,' he said, adding: 'At this point the horizon doesn't stretch out that far, but most economic scenarios suggest the beginnings of a recovery in 2010.' The DJ Stoxx Auto index has shed 22 percent this year and some shares, including Renault's, have fallen 50 percent. On the market for credit default swaps, Peugeot and Renault have relatively high prices, 190.2 and 197.85, compared to the 112.5 5-year Itraxx index and BMW's 115.03.