Yes, because the company went bankrupt in late 1992. As a result, production in France was stopped and moved to Thailand by the new owners of the brand. The sudden change in quality was much more evident than in Matchbox' case a couple of years before when they moved their production from Hackney to Macau.
I personally liked the old Majorettes that were still made in France quite a lot (although the majority of my toy cars were made by Siku and Matchbox)because of their "suspension".