PSA Groupe, as PSA Peugeot-Citroen now likes to be known, has turned itself around since the dark days of 2012 when it made an annual loss of EUR5bn. This, let us remind ourselves, was a volume player that was seen as spread thinly with sales across two poorly differentiated brands while also overly reliant on the depressed European car market where it also possessed excessive and costly manufacturing capacity.
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