PSA Sets Sales Record for 2018

PSA Group reports that its worldwide vehicle sales climbed 7% to a record 3.88 million units in 2018, thanks to booming demand in Europe.

A 31% gain to 3.11 million units in Europe last year offset declines in the Middle East/Africa (-53% to 292,000 vehicles), China/SE Asia (-32% to 262,600) and Latin America (-15% to 175,300).

The company attributes much of its success in Europe to a “perfectly managed” shift to the region’s new WLTP emission certification testing protocol. PSA says its own success boost its market share in Europe by 3.8 points.

Several competitors, notably Volkswagen AG, botched the transition, which blocked the sale of many of its most popular models for several weeks. VW warned in June that the snag could cut production in 2018 by as many as 250,000 vehicles.

Deliveries of PSA’s light commercial vehicles also set a new record in 2018, jumping 18% to 564,100 trucks and vans.