PARIS — Jean-Martin Folz, Peugeot-Citroen SA management board chairman, is making it clear he wants PSA to stand alone, and someday be the world's most profitable automotive group. Mergers and acquisitions, he says, are not necessary to achieve those goals. Indeed. Peugeot sold a record 2.5 million cars in 1999 worldwide, up 10% in an industry that rose only about 5%. All but 366,000 units were sold in Western Europe. Citroen held onto its European market share of 5.2% last year, thanks to ...
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