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 Peugeot retains a large manufacturing plant and Peugeot museum there. In February 2014, the shareholders agreed to a recapitalisation plan, in which Dongfeng Motors and the French government each bought a 14% stake in the company. Peugeot has received many international awards for its vehicles, including five European Car of the Year awards. In 2013 and 2014, Peugeot ranked the second lowest for average CO emissions among generalist brands in Europe, the Renault car maker group being ranked first, with 114.9g CO/km. Peugeot is known as a very reliable brand, citing how its 1950s and 1960s models are still running