2005 Ford F-150 Lariet Super Cab - Showroom Condition 19,000 Org, Miles 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.

Which car companies are creating new jobs in America?

Since January, automakers have announced investments totaling $9.5 billion in U.S. plants, creating or retaining more than 12,000 jobs. Some of those companies have yet to announce just how many jobs will be created given their investments, with the location of many of those jobs still to be determined. Specifically, the 4,000-job Toyota-Mazda joint venture plant still hasn't announced its location, with numerous states jockeying for it. Hyundai has plans to invest $1 billion but has not announced a jobs number yet. And likewise Ford is investing $1.2 billion in Michigan without specifying a number of jobs. Volvo this week announced plans to add a second line to its factory under construction in South Carolina, spending another $500 million and adding 2,500 jobs to the 2,000 it was already trying to fill. Then Thursday, Daimler announced a $1 billion expansion to its facility in Tuscaloosa, Ala., to produce EV batteries and electric SUVs, a move that will add 600 jobs to its hiring this year. Above, we've created a handy pie chart showing you which companies have announced new jobs and how many there will be. Reporting by Paul Lienert in Detroit News Source: Reuters Plants/Manufacturing BMW Chrysler Ford GM Honda Hyundai Mazda Mercedes-Benz Toyota Volvo jobs

Barrett-Jackson rundown: 2024 GMC Hummer EV, Colin Powell's Corvette and more

The echoes of the last hammer fall at Barrett-Jackson's Scottsdale Auction have disappeared into the Arizona night, as have the record crowds and the traffic jams. During the Super Saturday charity auctions, three main attractions drove onto the dais for bidding: Late U.S. Chairman of the Joint Chiefs of Staff and Secretary of State General Colin Powell’s 2015 Chevrolet Corvette Stingray, the hammer price benefitting AmericaÂ’s Promise Alliance, the nonprofit Powell founded to support kids; The first production 2024 GMC Hummer EV SUV Edition 1 with VIN 001, proceeds going to Tread Lightly!, which educates people on how to enjoy the outdoors in a motorized vehicle and simultaneously protect the outdoors; And the first production 2024 Ford Mustang GT Fastback VIN 001, its hammer price benefiting the Juvenile Diabetes Research Foundation. Before the Saturday showcase, charity auctions on Friday took Barrett-Jackson past a huge milestone. When an 800-horsepower 2021 Shelby Super Snake Count's Kustoms Edition hammered for $350,000 to support the veteran's charity Camp Freedom, the auction house officially surpassed the $150 million mark for charity auction proceeds. Piling on before the clock struck midnight, a 2023 Ford F-150 Lightning 4x4 Super Crew sold for $275,000, those funds donated to Fighter Country Foundation. Then came Saturday. Powell's Gunmetal Gray on black Stingray was said to be a daily driver, but with just 15,600 miles on the odometer, Powell — who died in 2021 — apparently had a very short commute. Equipped with an eight-speed automatic transmission and chrome wheels, it sold for $200,000. The first production 2024 GMC Hummer EV SUV Edition 1 ran the bidding up to $500,000. That's quite a ways down on the $2,500,000 that the bedded 2022 GMC Hummer EV Edition 1 garnered at the charity auction in 2021, and not a bad price all things considered. The owner gets the first one off the line instead of getting lost in the 90,000-order backlog, and the markup goes to a good cause instead of a flipper and eBay fees. The first production 2024 Mustang GT Fastback brought in both less and more than the Hummer EV. The Ford's hammer price came to $490,000. However, two additional philanthropic donations for this lot in the amounts of $50,000 and $25,000 took the final price to $565,000. The big movers on the day were outside the charity sphere, four cars breaking the million-dollar mark.