European Car of the Year the award for 1987. 19 years after the 504 gave Peugeot its first European Car of the Year, the French carmaker finally enjoyed its second triumph in the competition when its mid-range 405 saloon won the 1988 award by a wide margin. A year later, Fiat became the first manufacturer to win the award five times when its ground-breaking new Tipo achieved victory. Citroen's new XM flagship model won the award for 1990, with its French rival Renault scoring success a year later with the new Clio supermini, which signalled the end for the iconic R5. With the award now
Peugeot were jointly operating three car-manufacturing plants in China, with a capacity of producing 750,000 vehicles a year. In July 2014, the joint venture, Dongfeng Peugeot-Citroën, disclosed they were building a fourth factory in China in Chengdu, in Sichuan Province, targeting the manufacture of 300,000 sport-utility and multipurpose vehicles a year, starting towards the end of 2016. In January 2015, Indian multinational automotive giant Mahindra & Mahindra purchased a major stake of 51% of Peugeot Motocycles for a price of 28 million euro. Peugeot has produced five winners of the European Car of the Year award. Four other Peugeot models got