Citroën Plans Product Blitz to Raise Sales

11 June 2001

French automaker Citroën – a division of PSA Peugeot Citroën – intends to launch a raft of new products over the next four years in a bid to raise unit sales by over 30% to 1.5 million annually.

A new investment programme worth E3 billion ($2.55bn) per year will result in at least four new models which, says Citroën chief executive Claude Satinet, will help differentiate the brand from Peugeot – even though the sister marques will continue to share basic components.

Citroën has recently moved back into profit, with unit sales rising 13.4% from last year to 1.14m after the successful rollout of the Picasso and C5 brands. A new model, the C3 (seen as successor to the iconic 2CV), is slated for launch next year, with a larger car, the C6, following in 2003.

News source: Financial Times