2014 Ford Explorer Limited on 2040-cars

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EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.

Here's how much the new Ford Mustang will cost in Germany

While you can find Ford Mustangs across Europe, they were brought over there courtesy of importers, rather than Ford itself. That's changing with the 2015 pony car, as Ford will be selling it directly through its overseas dealers. Now, we know how much German customers will be shelling out for the muscle car, courtesy of the maniacs at Mustang6G. Not surprisingly, there's a fairly hefty premium compared to US prices. The base Mustang, with its 2.3-liter, turbocharged four-cylinder and six-speed manual transmission will start at 34,000 euros ($40,214, at today's rates), while the 5.0-liter V8/six-speed-manual model starts at 39,000 euros ($46,127). The Mustang Convertible demands an extra 4,000 euros ($4,731) while the optional six-speed automatic elevates the price by 2,000 euros ($2,365), regardless, in both cases, of whether there are four or eight cylinders under that long hood. While those prices are certainly pretty dear compared to what we pay in the US, the Mustang is a genuine bargain compared to some of Europe's other sports coupes. The German market BMW 4 Series starts at 36,050 euros ($42,638), while a base 435i calls for 48,100 euros ($56,891). It's a similar story with the Audi A5/S5. As for the Mustang's arch-nemesis, the Chevrolet Camaro, which is only available with the SS model's 6.2-liter V8, starts at 39,990 euros ($47,298), comparing quite evenly with the 5.0-liter GT.

From CrabWalks at dawn to post-testing sushi: An inside look at Autoblog’s Tech of the Year Award

TROY, Mich. — On a chilly fall morning, Senior Editor John Snyder rolled into a sleepy suburban park tucked away next to a cemetery a few miles north of Detroit. Driving diagonally — CrabWalking — in the GMC Hummer EV, he made quite the entrance as he maneuvered across the parking lot to the bemusement of Autoblog editors and a few curious park-goers up for their early morning runs.  Snyder got everyoneÂ’s attention, and as we evaluate the latest wave of technologies transforming the automotive industry, pizazz matters. We added "wow factor" to our criteria for the 2022 Autoblog Technology of the Year Award, in keeping with the times. The HummerÂ’s CrabWalk feature might have won, had wowness been the only criteria, but we also scored the technologies on significance and how well they work.  As it was, the Hummer finished a competitive second this year, behind FordÂ’s Onboard Scales and Smart Hitch, which make towing and hauling easier for modern truck owners. The Genesis GV60Â’s Biometrics was within striking distance in third place, bringing the facial recognition and fingerprint tech commonly used in phones to your car. For more on FordÂ’s win — its second straight Autoblog Technology of the Year Award — read Road Test Editor Zac PalmerÂ’s complete recap. Many have asked: Why do Tech of the Year? For Autoblog, itÂ’s been a point of pride for nearly a decade. In the early days it was a way to differentiate ourselves from print magazines, some of which have been giving out car of the year awards since the early days of the Cold War. With Tech of the Year, we seek to highlight the ways experiencing a vehicle is changing. It was true in 2013 and resonates even more as we head into 2023. Cars and transportation have changed more in the past decade than in arguably the previous four. At its most basic experience, driving a 1985 Buick LeSabre with a decent radio and comfy interior was not all that different from driving a 2005 Buick Lacrosse. Just a few years later, many cars had touchscreens, the internet and some means of driver assistance. Ford joins Tesla as the only two-time winner of Tech of the Year. The Blue Oval captured the award last year for its Pro Power Onboard generator. Tesla won in 2014 for its Supercharger network, and the Model S won in 2016, when we briefly gave out a “technology car” of the year award, in addition to honoring a particular feature.