Growing up in the 1990’s in Nigeria, if your parents drive a Peugeot 504 or a 505, they were assumed to be wealthy. Peugeot was the favourite car for both individual and the Government of Nigeria and its various agencies. I remember when the former Governor of Abia State, Orji Uzor Kalu gave one Peugeot car each to Eyimba of Aba when they won one of the local leagues cup, it became talk of the town. Peugeot was a dream car for every young man or woman at the time. Business for them was flourishing because Peugeot was a brand of choice. What Peugeot management failed to realise was the need to innovate to suite the needs of the new generation.
When brands like Toyota, Mercedes Benz etc started reinventing themselves to suit the new lifestyle of the people, Peugeot failed to have foresight , they were relaxed because they felt that since they were the cars of choice, it would be difficult for Government and its agencies to relegate them to the background and go for other brands, they lied. Read more here http://naijaentrepreneur.com/2017/04/13/how-lack-of-innovation-can-kill-a-brand-the-peugeot-vs-nokia-examples/