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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 gets dirty testing the 2017 Raptor

Want to hear the sweet sound of turbochargers spinning merrily away underhood of a 2017 Ford Raptor pickup truck test mule? Of course you do. And we're happy to oblige. Fortunately for you, those aren't the only sounds you'll hear when you watch the video above. We noted plenty of birds and insects, too, which means Ford has finally seen fit to share some good old fashioned muddy off-road footage of its upcoming off-road superstar as it is subjected to rigorous testing ahead of its on-sale date in the fall of 2016. It's no secret that we're big fans of the first generation of the Ford Raptor. If there was one complaint we've voiced about the truck, it's that the off-road-specific pickup could use a touch more power. Fortunately, more power is coming for 2017 as Ford replaces the outgoing 6.2-liter V8 with a new version of its 3.5-liter twin-turbo EcoBoost V6. We don't know exactly how many horses the new truck will corral, but we know it will be more than the 411 horsepower and 434 pound-feet of torque offered by the previous truck. This is the second time Ford has let out some interesting information about its tests of the next Raptor, the first focusing specifically on grueling desert trials. Considering the promises Ford is making about the 2017 Raptor's various off-road capabilities, we're keen to put the pickup through its paces ourselves. For now, though, join us in watching the video above. Related Gallery 2017 Ford SVT Raptor Desert Testing News Source: Ford Ford Truck Off-Road Vehicles Videos ford f-150 svt raptor ford raptor

2015 Ford Mustang production starts in Flat Rock

Today's the day, Ford fans. Production has officially commenced on the sixth-generation 2015 Mustang at the company's Flat Rock, MI factory. As production ramps up, sales should kick off in the coming months.
The production news isn't just a bit deal for American fans. With the new Mustang getting a bespoke right-hand-drive variant, the pony car's worldwide availability has swollen to include 120 different countries, including its home nation.
"Mustang is and will continue to be an automotive icon," Joe Hinrichs, Ford's president of the Americas, said in a statement. "Expanding its availability globally affords our customers around the world the opportunity to have a true firsthand Mustang experience - one unlike any other."