France's PSA reports 27.8% drop in 2020 sales due to Covid-19 crisis

PSA sales in Europe recovered in the second half of last year and were back to growth in the fourth quarter.The company said total sales stood at 2.51 million vehicles last year.
By : Reuters
| Updated on: 14 Jan 2021, 03:43 PM
File photo: Logo of PSA (AFP)
File photo: Logo of PSA (AFP)
File photo: Logo of PSA (AFP)
File photo: Logo of PSA

French carmaker PSA said on Thursday its worldwide sales slumped 27.8% in 2020 in a global automotive market hammered by the Covid-19 pandemic.

The company said total sales stood at 2.51 million vehicles last year.

PSA also said sales in Europe recovered in the second half of last year and were back to growth in the fourth quarter.

"This year of crisis was also an opportunity to develop e-selling", the company said in a statement, adding its target was to reach 100,000 digital sales in Europe by the end of 2021.

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(Also read | UK union calls for PSA to build EVs at its Vauxhall factory in England)

France's Renault reported on Monday a 21.3% drop in its worldwide sales in 2020.

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First Published Date: 14 Jan 2021, 03:43 PM IST
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