Paris-based PSA has declined 41 percent this year, the steepest decline among European automakers, expanding the gap to Volkswagen's shares to 91 euros from a 10-year average of 16 euros.
Its 3.8 billion-euro ($5.2 billion) market value is less than one-tenth of 2010 annual revenue of 56 billion euros.
CEO Philippe Varin's efforts to reduce dependence on Europe through emerging-market expansion may be too late to prevent PSA, Europe's second-largest automaker after VW, from taking the brunt of a downturn.
SEE: www.autonews.com
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