PSA Group has met its EU CO2 emissions target so far this year, helped by strong sales of diesel cars and low emissions electrified vehicles.
"We said that being compliant on CO2 in Europe is a must for PSA and we have been delivering this on a monthly basis. We achieved this in January and in February,” PSA CEO Carlos Tavares said.
Strong sales of full-electric and plug-in hybrid cars are helping to keep down PSA's CO2 average, Tavares said in a web conference call on Tuesday that took place instead of interviews with journalists at the canceled Geneva auto show.
Tavares said that PSA was able to be compliant so far with its 2020 CO2 target of 93g/km because sales of low emissions vehicles (LEVs), an EU definition that includes battery-powered models and plug-ins, currently account for 6 percent of the automaker's sales in Europe. Two years ago Tavares predicted that PSA would need 7 percent of its sales to be LEVs to stay in line with its EU target.
"A 7 percent rate was needed in a worst-case scenario of the diesel share in Europe collapsing to 10 percent. Our diesel sales have stabilized at about 30 percent and so we are compliant with sales of LEVs of about 6 percent," Tavares said.
Tavares said that penetration of LEV variants in model lines that have them range from 10 percent to 20 percent.