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Ford, Renault, VW shareholder oppose French aid for PSA/Peugeot-Citro"en

Pots and kettles, glass houses and stones - that's a little of what we appear to have going on in the European car market. New reports say that that three European automakers have registered their opposition to a loan deal that PSA/Peugeot-Citroën is working on with the French government. Peugeot's finance arm, Banque PSA Finance, is struggling with its debts and has been downgraded by Moody's to its lowest investment-grade classification, one step above junk. This makes it more expensive for a potential buyer to finance a car through Peugeot. The last thing Peugeot needs is more difficulty selling cars in the tough European market, and the situation will only worsen if the bank's credit worthiness takes another hit.
A deal being worked on would have the French government offer €7 billion ($9B U.S.) in bonds to guarantee the bank's loans, which would give the institution some breathing room to manage its debts and lower its interest rates. Outside of that, a group of banks would provide other, non-guaranteed loans to the bank to further help its position. In exchange for state help, though, the government wants seats on Peugeot's board for worker representatives and a government liaison, along with factory and worker guarantees. The Peugeot family would maintain control of the company.
So what we have is government assistance being provided to a car company's finance arm, akin to the way General Motors' GMAC (now Ally Financial) and Chrysler Financial got help in their time of need. What we also have is Ford and Renault, and Germany's State of Lower Saxony, the second-largest shareholder in Volkswagen, voicing their concern about the proposal, because they say it could create an unfair competitive advantage for Peugeot. Everyone in Europe's down market is fighting for every sale, and if Peugeot gets help to keep its auto loan costs down, it figures to help buyers choose Peugeot or Citroën.

Ford F-100 'Snakebit' shown off by Gene Simmons and Shannon Tweed at SEMA

Ford, along with KISS bassist Gene Simmons and his wife, Shannon Tweed, used SEMA as a backdrop to pull the covers off Snakebit, a 1956 Ford F-100 pickup truck that's been updated with Shelby Mustang-derived styling bits and a 5.4-liter supercharged V8 engine. All 550 horsepower are funneled through a six-speed manual gearbox to the rear wheels.
Underneath the custom bodywork sits a chassis that's been stretched five inches and a bed widened and bedecked with billet machined pieces that are supposed to look like wood. The 20-inch rear and 18-inch front wheels ape those of past Shelby Mustang models. The interior is swathed in two-tone leather with a bench seat designed to look - try to act surprised - like a Shelby Mustang.
Like what you see? Bidding for the truck will take place in 2014 at an unspecified Barrett-Jackson event (we'd assume Scottsdale). Proceeds will be used to help build a children's hospital in Saskatoon, in the province of Saskatchewan, where Ms. Tweed grew up. See the high-res gallery above and the press release down below for more.

Ford Mustang Mach-E fails Sweden's moose test

The infamous moose test has claimed another casualty. This time it's the Ford Mustang Mach-E AWD Long Range, which was tested in an electric four-way alongside the Tesla Model Y, Hyundai Ioniq 5 and Skoda Enyaq iV (an electric utility vehicle closely related to the Volkswagen ID.4 that is sold in the United States). According to the Swedish testers at Teknikens Varld, Ford's electric car not only failed to hit the speed necessary for a passing grade, it didn't perform well at slower speeds, either. To pass the outlet's moose test, a car has to complete a rapid left-right-straight S-shaped pattern marked by cones at a speed of at least 72 km/h (44.7 miles per hour). The test is designed to mimic the type of avoidance maneuver a driver would have to take in order to avoid hitting something that wandered into the road, which in Sweden may be a moose but could just as easily be a deer or some other member of the animal kingdom elsewhere in the world, or possibly a child or car backing into the motorway. Not only is the maneuver very aggressive, it's also performed with weights belted into each seat and more weight added to the cargo area to hit the vehicle's maximum allowable carrying capacity. The Mustang Mach-E only managed to complete the moose test at 68 km/h (42.3 mph), well below the passing-grade threshold. Even at much lower speeds, Teknikens Varld says the Mach-E (which boasts the highest carrying capacity and was therefore loaded with more weight than the rest of the vehicles tested in this quartet) is "too soft in the chassis" and suffers from "too slow steering." Proving that it is indeed possible to pass the test, the Hyundai and Skoda completed the maneuver at the 44.7-mph figure required for a passing grade and the Tesla did it at 46.6 mph, albeit with less weight in the cargo area. It's not clear whether other versions of the Mustang Mach-E would pass the test. It's also unknown if Ford will make any changes to its chassis tuning or electronic stability control software, as some other automakers have done after a poor performance from Teknikens Varld, to improve its performance in the moose test. Related video: