French automaker’s CEO says they want “back in the race”.
Peugeot S.A., the French manufacturer of Citroen and Peugeot and the second-largest automaker in Europe, says it is "considering" a US comeback after 23 years of absence. Currently in the midst of reorganization that includes four major benchmarks, CEO Carlos Tavares told Edmunds that a successful completion could be followed by a triumphant return to the US. First, though, Peugeot wants to establish a separate high-end brand for Citroen's DS models, reduce model lines from 45 to 25 and return to profitability.
Furthermore, the company intends to modernize its manufacturing facilities in order to raise competitiveness. Peugeot left the American market in 1991 after selling just 2,000 units of its 405 sedan that year. Now, the company makes a huge range of models, from small hatchbacks and crossovers to high-end sedans and convertibles. The DS line includes some stunning, colorful renditions of Citroen's regular models. Tavares expects to achieve his goals only in 2017 or 2018, so don't expect a new Peugeot dealership in your neighborhood anytime before that.