Peugeot Citroën's Bold Turnaround Plan

CEO Streiff is planning 29 new models by 2010 to revive the carmaker's sales in a slowing European market fraught with intense competition

Europe's No. 2 automaker, PSA Peugeot Citroën (PEUP), took Europe by storm a decade ago, pioneering clean-diesel engines and churning out a raft of chic models, such as the 206 subcompact, that put market leader Volkswagen (VOWG) to shame. Sales soared, generating some of the loftiest margins in the business. As Peugeot's European market share rose to 15.5%, some even talked about the French carmaker passing European leader Volkswagen.

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