Like the Autobianchi A112 Giovani, the Peugeot 104 Peugette was designed by Pininfarina as an affordable convertible aimed primarily at young buyers. Pininfarina was desperately trying to land a production contract, so it built the Peugette on a mostly stock 104 platform using mechanical components sourced from the Peugeot parts bin.
The concept was well-executed, but the timing was way off. In 1976, Peugeot took over Citroën to keep it afloat, so it had no interest in building a low-volume convertible.
Source: Pininfarina; ranwhenparked.net
Images: Pininfarina; Concept Car Central; CAR Magazine - December 1977