Peugeot have announced that they will be joining the luxury car market in the next 12 months with a new luxury Exalt model. The Exalt model will take on the luxury five door market and will be specifically targeted in the Chinese car market.
Both Peugeot and Citroen are brands looking to build on the success of individual models and push sales and market share more than ever before as the brand look to return to profitable ways. Citroen have released a new C4 Cactus model which is set to take on the crossover market and offer something different for less.
The new Cactus model has dominated motor shows for over 12 months and will be available for just £13,000. The new model is tipped to jump straight into the top ten best selling models in the UK upon the release.
The new Peugeot luxury model has been described as being a symbol of rebirth for the brand as they look to firmly put the demise of sales behind them. Peugeot and Citroen suffered more than most as the European car market went into meltdown in 2012 and made a number of key changes at the top.
Peugeot have also teamed up with Dongfeng motors who had previously been rumoured to purchase the brand. However, the deal between the two manufacturers will benefit both brands due to the knowledge of one brand in one market and the other in the other market.
Dongfeng motors have recently announced that they will be teaming up with a number of brands including Peugeot and Honda as more and more manufacturers look to target the Chinese car market. Dongfeng are the second biggest car manufacturer in China which makes the firm very attractive to external firms looking to reduce production and distribution costs.
The Peugeot Exalt model has been being tinkered with for over 18 months which is 6 months longer than the average concept model. This suggests that the model has the hopes of a lot of people pinned onto it and could be the step towards success in the Chinese car market. Peugeot will be looking to turn around the failings in the past 12 months and return to the top of best selling charts with the Citroen brand.