I created this discussion thread before Sony's financial report on Thursday. At the moment the PS5 is just behind the PS4 worldwide. However, we still have the PS5 Pro and GTA 6. And most Sony Studios still have games to release in this generation. I would like to know in your opinion if the PS5 can still surpass the PS4 in sales.

I don’t think so for several major reasons

1) The consoles continue to go up in price worldwide in a time where cost of living is ridiculous so gaming has gone from a luxury to a major luxury for most.

2) Sony themselves believe the PS5 peaked in sales this past year, so it will most likely never reach those sales numbers again.

3) Pro consoles don’t move units dramatically enough to make an impact. Just look at PS4 Pro sales. They’re enthusiast devices. Not for the masses. I can’t imagine what the price is going to be, which coincides with my first point.

4) Now that Sony is releasing all their games on PC, it’s going to lead some to hold off on getting a PS5 to wait for a game to arrive on PC. Nearly all of Sony’s major first titles this gen are on PC minus GT7, Demon’s Souls, and Spider-Man 2.

I think it has a great chance of still hitting 100 million lifetime in sales though! 

No and that's mostly for the same reasons G2ThatUNIT enumerated in his post.

Also, since the PS5 is already in a decline motion, it will most likely be quite under the PS4 launch aligned for this calendar year's shipments which were about 19.4M

Also considering the uncertainty of GTAVI release in 2025, which I believe will end up being a 2026 release. The numbers shipped will just get lower by then and thus GTAVI won't produce the huge bump it might have by releasing earlier on the PS5 life cycle.

I'm imagining something somewhere around 105M-115M sounds plausible atm.

I doubt it will. I think it will end around 110m, so at least above Wii & PS1. Still pretty close to PS4 at least. Maybe it'll have a slightly better tail at the end.

It depends mainly on when the PS6 comes out. If the PS5 is the longest lasting Playstation yet and it doesn't come out till 2028 it will but if it lasts a normal amount of time and it comes out in 2027 then it probably won't since it's slowly falling behind the PS4. Due to stuff like this gen getting off to a really slow start and AAA game getting increasingly long I think 2028 is quite possible but it's up in the air currently.

Probably not unless PS6 comes out in 2028. Even with inflation, a PS5 Digital is more expensive than the PS4 Slim.
The PS5 is not particularly economical in any region of the world. It's selling so well largely because of the power of the brand and because Xbox isn't offering enough to interest people. I don't see the PS5 Digital ever going below $350 USD as a permanent price, and it probably won't ever go below $400 USD since it is currently $450 USD which was a price hike from the pre-Slim Digital.
One other factor I suppose other than a 2028 release date of PS6 that could lead to PS5 outselling PS4 is Sony's arrogance. Whether PS6 comes out in 2027 or 2028, we could see a PS3 situation all over again where the console is too expensive and not enough people are interested in the software either. In that case, PS5 (which would probably still be in production anyway) would get PS4 and likely crack the 120 million units mark as well. You might argue that PS5 sales would dry up to almost nothing if PS6 had fails at launch, but I don't see it that way. I really don't think we're looking at a Wii U situation where the console struggled its whole life after launch and even Wii sales had shrunk to small numbers at that point.

No. It'll hit 100 million though, I'm sure of that.

It won't. The supply issues they had in early life will prevent it. If Sony had enough supply and more competitive pricing they could have erased Microsoft from console market and sell 140+ this gen

They have yet a chance to make this happen next gen though

As others have stated if the PS5 lifespan is the same as the PS4 it will fall just short as PS5 sales have peaked according to Sony themselves. Especially with the PS5 price being higher than the PS4 was. Though, the PS5 generation is going to be more profitable than the PS4 generation. Now if the PS6 doesn't launch until 2028 that gives the PS5 an extra year than the PS4, which might be enough for the PS5 to outsell the PS4. 

It can depending on when the PS6 launches. Lets say a 2028 launch year:

FY24: 17M
FY25: 15M
FY26: 13M
FY27: 10M
FY28: 6M

Total: 120M+ lifetime by FY29.