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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.

Ford considering bringing Ranger pickup back to the US

When Ford announced last month that it was moving Focus and C-Max production out of the Michigan Assembly Plant after 2018, it said that it was looking for other products to build at the facility and such proposals would be part of discussions with the UAW on a new contract. According to a report in The Detroit News, one of those vehicles could be a new Ford Ranger midsize pickup. We're a long way out from a decision being made, and both the UAW and Ford's board of directors would have to sign on, but the report says it's in the air. The last Ranger was built in the now-shuttered Twin Cities Assembly Plant in St. Paul, MN, in December 2011. After 29 years on the market, slow sales for the truck itself and the midsize truck segment doomed it, annual Ranger sales numbers having dropped from a peak of roughly 350,000 in 1999 to just 70,832 in 2011. The midsized truck market is still coming out of its own doldrums, with 211,797 sold through July 2015, the Toyota Tacoma accounting for 50.1 percent of that, followed by the Chevrolet Colorado, Nissan Frontier, and GMC Canyon. Even with analyst predictions that the market will grow to 300,000 in the near future, compare that to the fullsize truck market that has already sold 1.2 million units this year. The Wayne plant has built trucks before over its 57-year history, but it would likely need more than just the Ranger to keep it afloat; it builds five vehicles now, pumping out 265,000 units last year. According to Bloomberg, this could also mean the possible return of the Bronco. If we do get a new Ranger, it probably won't be anything like the old Ranger. Ford still makes it for 180 global markets, but if you've seen one you know it's a different animal. The wheelbase on the 2015 Ranger sold in Australia is fifteen inches longer than our 2012 Regular Cab model, about an inch longer than the 2012 Supercab. It has a bulkier design, weighs 700 pounds more, and can be had in numerous configurations we didn't get like a five-seat Dual Cab. A new version for us would also need updating for US regulations, and Ford would want to make sure it could be built with price and size separation from the fullsize F-Series.

Ford readying three-row Edge for China

The next-generation Ford Edge will be available with quite a growth spurt for its debut in China next year, with newly announced plans also to build and sell a three-row version exclusively in the People's Republic. However, markets outside of there likely won't see the larger model. Ford marketing boss (and future head of Ford of Europe) Jim Farley announced the three-row version of the crossover at the Los Angeles Auto Show, according to Automotive News. To create the extra room, Ford made the Chinese-built variant about 16 inches longer than its two-row counterpart. Farley didn't specify at which of the Blue Oval's plants in the country this model would be assembled. The Explorer and forthcoming Everest already offer three rows from the Ford lineup in China, but the company thinks the market can easily support all of them. According to Farley to Automotive News, the utility segment is up 485 percent in the country since 2008. Customers in the US can still look forward to the two-row Edge hitting dealers early next year. It'll be the first model in the Blue Oval's lineup here to come standard with EcoBoost power.