PSA Groupe 2019 sales drool 10 per cent after record-setting 2018

by   |  VIEW 462

PSA Groupe 2019 sales drool 10 per cent after record-setting 2018

Peugeot-maker French automotive industry tycoon, Groupe PSA, had revealed its annual sales data for 2019 on Thursday, the 16th of January 2020, which reported a drop of 10 per cent in sales to 3.49 million units last year on an annualized basis, as the French carmaker, which was set to create the world’s fourth-largest automaker following its $50 billion merger with Italian-American automotive industry giant, Fiat Chrysler Automobiles NV, had faced off a steep decline in sales volumes in the Middle East, Africa and China, the world’s largest automotive industry market.

Although the Paris-based carmaker’s sales had dwindled more than 2.5 per cent last year to 3.11 million vehicles, while its Opel-Vauxhall brand took the heaviest tattering with a header of 6.4 per cent, Groupe PSA was quoted saying in Thursday’s (January 16th) statement that following a surge at its sales of light commercial vehicles in Europe, the automaker had been able to maintain its position in the European market with a market share of 16.8 per cent.

Nonetheless, according to 2019 sales data released by European Automobiles Manufacturers Associations, Groupe PSA had been the third-largest European automaker last year in terms of passenger cars sales, behind German Volkswagen AG alongside French Renault SA.

Meanwhile, adding the French carmaker’s DS brand had been the only PSA brand to report a boost in sales last year with an increase of 17.4 per cent to 62,512 units amid a steep downturn in passenger cars sales across the globe, PSA said in a statement on Thursday (January 16th), “2019 was a year of consolidation for Peugeot.

The brand completely renewed its B-segment offering to support its sales growth in 2020. Citroen had the strongest growth among the top 12 best-selling brands in Europe. ”