PSA/Peugeot-Citroen outlined plans to cut its model lineup by almost half and to turn Citroen’s DS unit into a separate brand in a bid to restore the automotive division’s profit.

By 2018 the carmaking unit’s operating margin will amount to 2 percent of sales, with the figure rising to 5 percent in the 2019-2023 period, CEO Carlos Tavares said today in his strategic review of the Paris-based automaker.