PSA faces 'make-or-break' year after failing to adapt to changing China

Four years ago, PSA Group's future in China seemed limitless. China became the automaker's largest market in 2014, with sales of 734,000 vehicles, outpacing France for the first time. PSA's two joint ventures were ramping up manufacturing, and the upscale brand DS had just been spun off from Citroen, aiming to draw affluent Chinese buyers with French elegance.