1998 Ford Expedition 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.

2015 Ford Transit Connect Wagon

The last time I tested a Ford Transit Connect, I needed to drive a group of friends to Boyne, MI, for a long weekend of skiing, snowboarding, and shenanigans. At roughly three hours, the trip is just long enough that my friends asked for something comfortable. A Range Rover would've been ideal. Perhaps a Mercedes-Benz GL or Cadillac Escalade. But no, I chose Transit Connect, to put Ford's small van formula to the test. The tiny van was near the end of its lifecycle in 2012, having debuted in Europe in 2003. Its age was reflected in its loud, underpowered, inefficient engine; noisy, harsh ride; and uncomfortable seats. It was so uncomfortable that we had to stop every hour just to stretch our legs. I didn't have such elaborate plans when this 2015 Transit Connect Wagon arrived in my driveway. But after a week behind the wheel, I can tell that road tripping in this van would be a far, far better experience. The most obvious change for the second-generation model is the styling. It's much better looking than the old TC, looking like the high-roofed spawn of a Focus and Escape. There are a few anomalies, though. First, note the word "Wagon" – that implies passenger van, while the cargo/work-minded Transit Connect is called "Van." Next, this Titanium model is only available on the longer-wheelbase, three-row Wagon. With the LWB configuration, the only tailgate option is a single-piece, lift-up hatch. If you want barn-style doors, get cozy with the short-wheelbase, two-row Transit Connect XLT. Regardless of body style, the Transit Connect Wagon's best styling feature is its enormous greenhouse that guarantees excellent visibility from any angle. The interior adopts a dash layout similar to the Focus. The heated leather seats – standard on the Titanium – are nice enough, but better still is that the chairs are actually comfortable now. The plastics on the dash and doors are still hard and scratchy, but fit and finish is solid. And with major contact points and switchgear that have been pilfered from other Ford products, including the steering wheel, the occasional bad bits in the cabin are easy enough to ignore. With room for three folks in the second row and two more in the back, the Transit Connect Wagon fills a role that is more utilitarian and spartan, but not much less versatile than traditional minivans. The middle row seats feature stadium-style raised seating, and both rows can slide forward and back or fold.

Watch Vaughn Gittin Jr. hit the ice in his 2015 Mustang RTR

There's more than one way to get a car to drift. You can set up a purpose-built drift car. Or you can put a car on a slick surface. But in this case, Vaughn Gittin Jr. has done both. In this latest video, the driftmeister extraordinaire reveals the new livery for his 2015 Ford Mustang RTR, and put it on a frozen track, flanked by snow banks. It's the perfect place to drift any car, and this custom pony car could very well be the perfect drifter. Call it a match made in heaven. A cold, frozen-over slice of heaven where rear-drive muscle cars put on one heck of a show. Gittin, for those unfamiliar, is one of the drifting scene's foremost showmen, and like Ken Block or Tanner Foust, he competes primarily in Blue Oval machinery. Vaughn will be challenging the Formula Drift series once again in the Mustang RTR, but whether the sideways-driving championship is coming to a circuit near you or not, you can scope out a piece of the action right here.