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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 announces recall of 220,000 units in three different actions

Ford has announced three separate recalls affecting 220,000 vehicles built between model years 2011 and 2015. By far the biggest affects just under 213,000 Ford Explorer and Police Interceptor Utility SUVs from MY2011 through 2013. In these vehicles, a spring in the doorway handle could be come unseated, Ford reports, causing the doors to open in a side-impact accident. The affected vehicles were built over a wide range of dates, starting with February 1, 2011 and November 30, 2012. As usual, the majority of the 212,911 vehicles were sold in the US market – 194,484 vehicles, in fact, while Canada and Mexico split the remainder, with 12,392 and 6,035, respectively. The other two recalls focus on specialty vehicles, with Ford recalling 6,500 F-Series Super Duty ambulances and emergency trucks from model years 2011 to 2015. In the case of the 2014 and 2015 F-Series, only trucks with the 6.7-liter turbodiesel are affected. These trucks may have faulty exhaust gas sensors, which according to Ford, could cause the trucks to think they're in a high-temperature situation. The trucks in questions were built at Ford's Kentucky truck plant between February 22, 2010 and February 1, 2015. Finally, the Blue Oval is recalling 1,725 specialty Lincoln MKT crossovers from MY2013 to 2015. These include limos and hearses built between March 6, 2012 and March 4, 2015. Affected MKTs may have a faulty vacuum pump relay that could cause a fire under the hood. In the case of the Explorers, dealers will inspect all four door handles and repair them as needed. The Super Duty's will get software updates, while the MKTs will have the vacuum pump relays replaced outright. A pair of MKT fires has been the only reported incident caused by the recalled components, while the company is unaware of any injuries or deaths. Scroll down for the official press release from Ford. Related Video: FORD ISSUES THREE SAFETY RECALLS IN NORTH AMERICA DEARBORN, Mich., March 25, 2015 – Ford is issuing three safety recalls in North America. No accidents or injuries are attributed to these conditions. Details are as follows: Ford issues safety recall for certain 2011-2013 Ford Explorer and Ford Police Interceptor Utility vehicles for interior door handle issue Ford is issuing a safety recall for approximately 213,000 2011-2013 Ford Explorer and Ford Police Interceptor Utility vehicles in North America (actual 212,911) for an issue with the spring that controls the interior door handles.

Which of these high-powered pickup classics would you choose?

High-performance pickups would appear to be having a moment on the auction site Bring a Trailer, with two tempting examples up for auction right now: a 1971 Ford Ranchero GT and a 1991 GMC Syclone. These trucks are a generation apart, but they each represent the peak muscle truck of their time. The Ranchero, of course, was Ford's car-based pickup, and Ford took advantage of its Torino roots by offering the same ultra-high-performance 429 Cobra Jet V8 in the Ranchero as it did in the Torino-branded coupes and convertibles. The 429 V8 in this truck is said to be numbers-matching, and it looks the business topped with an air scoop poking through the hood. It's paired with a three-speed automatic and a limited slip differential, reportedly one of only 82 1971-model Rancheros with this powertrain combo. As a Ranchero GT, this example sports hidden headlights, and the dual sport mirrors and vinyl top further establish its kinship with its passenger-car siblings. A set of factory Magnum 500 wheels and a respray in the original red add to the muscle-truck vibe. Two decades later, car-based pickups were dead, so when GMC decided to revive the muscle-truck genre it did so with the mid-size Sonoma. The resulting Syclone put a more modern spin on the fast-pickup idea (and on the spelling of "cyclone"). This hi-po hauler uses a 4.3-liter V6 topped with a Mitsubishi turbocharger that helped it make 280 horsepower. It's mated to a floor-shifted four-speed automatic and a Borg-Warner all-wheel-drive system with a 35/65 torque split. The Syclone was a one-year-only model, of which just under 3,000 were built. All were black with matching cloth seats with red accents. The only other '71 Ranchero to appear on BaT was a non-original GT with a 351ci V8 that was a no-sale at $7,900. This Ranchero is already nearly double that figure. Of the four previously Syclones that have crossed BaT's virtual auction block, two have sold, for $36,000 and $50,000, but both had lower miles than this truck. At this writing, these two trucks are neck-and-neck, both in the mid teens with both auctions set to end April 23. Which powerhouse pickup makes you want to put your money down? Featured Gallery Ford Ranchero and GMC Syclone Ford GMC Truck Classics