After five years of steadily dwindling sales, French automaker Peugeot S.A. calls it quits in the U.S.
Peugeot informed its 151 American franchisees in a letter that arrived on Aug. 6, 1991, that the company would no longer produce cars for the U.S. market.
In 1990, Peugeot sold just 4,261 cars in the U.S., about 70 percent of them the 405 sedan, compared with 14,336 in 1986. The French automaker entered the U.S. market in 1958 and launched sales of the 404 in 1960.
The new front-wheel-drive 405 sedan, based on a platform shared with the Citroen BX, was introduced in the U.S. in 1989. It was voted European Car of the Year in 1988 and Peugeot banked on a U.S. comeback with the car.