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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.

Carmakers, NHTSA to unveil auto-emergency braking agreement tomorrow

Happy St. Patrick's Day Eve. Tomorrow, there will be green beer, corned beef and cabbage, and automatic emergency braking for all. Weird combo, we know. But on St. Patty's we can expect an official announcement from a pact of automakers making auto-braking systems standard equipment by 2022. That's per a report from Reuters, which cites three sources familiar with the plans. Originally announced in September 2015 by 10 automakers and the National Highway Traffic Safety Administration, the agreement is expected to be even larger when the details are unveiled tomorrow. According to Reuters, the manufacturers of 99 percent of the US domestic market's vehicles will be represented by the new agreement. It's believed that standard AEB systems could prevent thousands of accidents across the country. Expect more on the official announcement when it's made. Related Video:

Ford bringing adaptive steering to the masses [w/video]

Within the next year, Ford will offer a brand-new adaptive steering system (unimaginatively dubbed "Ford Adaptive Steering"), and this week, the automaker invited us out to its proving grounds in Dearborn, MI to get a taste for how its new setup works. In function, Ford's system doesn't greatly differ from the majority of other adaptive steering units already on the market from companies like Audi or BMW, but consider this: Ford will be the first non-luxury automaker to offer this technology, and uniquely, the whole system fits inside the car's steering wheel.
Ford's engineers have worked hard to create a system that can be tacked on to the company's full lineup of cars, trucks and utility vehicles, and says that the adaptive steering will be uniquely tuned for each specific vehicle. The automaker will not confirm exactly which vehicle will launch with this technology, but for the purpose of our preview, we tested the technology in a 2014 Fusion - a vehicle with already-good behind-the-wheel feel, one that the company says best demonstrates its current steering efforts.