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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.

Volkswagen incorporating gesture control into updated Golf

For many, the Volkswagen Golf is the epitome of the accessible mode of transportation. It is the "People's Car," after all. Yet in its next iteration, it's slated to get some trick high-end tech on board. Speaking with Auto Express, VW powertrain chief Dr. Heinz-Jakob Neusser revealed that the upcoming facelifted Golf will include gesture control technology. "The interior features a preview of future VW interior technologies, with smartphone applications redefined for automotive use," Neusser told AE. "The gesture control will become reality in the Golf at the end of next year." The feature is being rolled out by other automakers on decidedly more upscale offerings (like the next-gen BMW 7 Series), but look poised to democratize the technology on the far more accessible Golf as soon as next year when the updated model arrives. VW demonstrated the tech at CES with the Golf R Touch concept, which is making an encore appearance at CES Asia in Shanghai this week, where Neusser confirmed the features are slated for production. The VW Golf R Touch concept incorporated a trio of oversized infotainment displays measuring 12.8, 12.3 and 8 inches, as well as gesture-control technology and all the latest smartphone connectivity standards – including Microsoft MirrorLink, Apple CarPlay and Google's Android Auto.

Buick Wildcat and Electra concepts, Ford Maverick | Autoblog Podcast #732

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They lead off with a discussion of the news. This section touches on the DeLorean Alpha5, Buick Wildcat EV Concept reveal, revival of the Buick Electra name, production reveal of the Mercedes-AMG One and some scuttle about Volkswagen's recently-bought Scout brand. After that, they move on to the cars they've been driving, including the Ford Maverick and Chrysler Pacifica Hybrid. After the pair finish with what they've been driving, the podcast transitions to an interview between Greg Migliore and former Car and Driver Editor-in-Chief Eddie Alterman. Finally, Greg and Zac wrap things up with some more spring and summer beer recommendations. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #732 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Delorean Alpha5 reveal Buick Wildcat EV Concept reveal Revival of the Buick Electra name Production reveal of the Mercedes-AMG One Volkswagen's recently-bought Scout brand controversy Cars we're driving 2022 Ford Maverick EcoBoost 2022 Chrysler Pacifica Hybrid Pinnacle Interview with Eddie Alterman Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Buick Chrysler Ford Mercedes-Benz Volkswagen Truck Coupe Minivan/Van SUV Concept Cars Electric Future Vehicles Luxury Off-Road Vehicles Performance Supercars Sedan