The price of the entry-level Citroen C5 has been slashed to $32,990 driveaway, saving customers more than $6000 on the stylish but unloved mid-sized French sedan.
The Citroen C5 Attraction petrol is normally priced from $35,990 before statutory charges, delivery and dealer costs, which when added take the C5’s on-the-road price to close to $40,000.
The Citroen C5 Attraction is powered by a 115kW/240Nm 1.6-litre turbocharged petrol engine. Standard features include a six-speed automatic transmission, 17-inch alloy wheels, automatic headlights and wipers, cruise control with speed limiter, climate control and a six-speaker audio system with Bluetooth connectivity.
Citroen Australia’s website says the driveaway pricing offer will remain until the end of the month or while stock lasts.
The heavy discounting is the latest attempt from Citroen’s Australian distributor, Ateco Automotive, to increase sales of the prestige medium car.
In October, Citroen introduced the petrol-engined Attraction base model, which saw the C5 range's entry price plummet $11,000 from its previous starting level of $46,990.
So far the restructuring appears to be paying off with C5 sales increasing 57.5 per cent in the first three months of this year, up from 40 to 63.
Despite the increase, the C5 remains one of the least popular vehicles in the medium segment. It has just a 0.4 per cent share of the sub-$60,000 medium segment and has outsold only a few models, including the discontinued Alfa Romeo 159 (47), the Renault Latitude (32) and the Volvo S40 (41). The Toyota Camry (5193), Honda Accord Euro (2179) and the Mazda6 (1770) are the segment leaders.
When it announced the price restructuring last year, Citroen predicted it would sell 425 C5s in 2012. At the current rate it is on track to sell approximately 250 C5s for the year, around 60 per cent of its target.