Jean Panhard, nephew of the founder of Panhard & Levassor, was appointed chairman and managing director of the new company, SCMPL (Panhard & Levassor mechanical construction company).
Although it was clearly running out of steam in the automotive construction sector, Panhard was the world leader of wheeled armored vehicles.
The last Panhard automobile, the Dyna 24, was made in 1967 and Panhard turned exclusively to military vehicles, a sector in which it would not be competing with Citroën.
For further information...
Book : Philippe Krebs, Bernard Vermeylen, Panhard et Levassor, pionniers de l’industrie automobile, ETAI, 2016