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Mar 25 2020

PSA's New Car Sales Drop 73% In China

 

The PSA group's global car sales fell 11% at the end of February 2020, with a fall of 73% in China, in the midst of the coronavirus period. Such a plunge is to be feared in Europe in the coming months for all manufacturers. World sales of PSA stood at 466,168 units in the first two months of 2020, a drop of 11.4% compared to the same period last year. The decline in the Chinese automobile market inevitably accelerated in January and February 2020 with the spread of the coronavirus. PSA paid the price, dropping 72.7%, with a total of 5,468 sales. This is almost 15,000 less than at the same time last year. The DS brand, for example, sold 45 models in China in the first two months. At the start of 2020, the Chinese market represents only 1.2% of world sales of PSA (compared to 3.4% in 2019 and 7% in 2018). A share that will mechanically rise in the coming months with the recovery of activity in the country and the expected collapse of sales in Europe.






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