In Q1 2020, Some 6% Of PSA Group Car Sales Were Plug-In Electric Cars
Plug-in electric car sales seem to progress pretty well, but COVID-19 ruined the rest of the business.
The first quarter was pretty challenging also for the PSA Group (Peugeot, Citroën, DS, Opel/Vauxhall), as the global sales tanked by 29.2% year-over-year to 627,024.
In Europe (the company’s biggest market), sales amounted to 548,631, which is 30% less than a year ago.
Because of the situation with the COVID-19 outbreak, the revenues were down by 15.6% at €15.2 billion.
There is also a positive news, as PSA Group said in its presentation (see here from about 3:00), that was compliant with the new, stricter emission requirements in the European Union – both in Q1 and each month of the quarter individually.
It was possible thanks to 6% of “LEV” (Light Electric Vehicles) sales share (under 33,000 considering European sales volume), which include all-electric and most likely also plug-in hybrid models.
The bad news is that the company anticipates a significant decrease in the automotive market in 2020:
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