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Ford fixing 130k vehicles in three recalls

Ford is issuing three new safety campaigns that cover a total of 130,801 vehicles in North America, but the company has no reports of accidents, injuries, or fires from any of these issues. The largest of these campaigns covers 128,823 examples of the 2009-2010 Ford Edge and Lincoln MKX that are currently registered or originally sold in rust-prone areas of North America, including 110,636 in the US. On these crossovers, "corrosion under the reinforcement brackets where the fuel tank is mounted" can potentially result in a fuel leak. To fix the issue, dealers will inspect the tank and will repair or replace it as necessary. The affected locations are: Connecticut, Delaware, the District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin; and the Canadian provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, and Quebec. Ford is also recalling 1,906 North American examples of the 2016 Mustang, including 1,900 in the US, because of possible damage to some components during shipping to the factory. On the affected pony cars, "dealers will replace front and rear seat belt assemblies, rear seat buckle assemblies, and child tethers," the company says in its statement. Finally, the smallest campaign is for 72 units of the 2016 Ford E-Series cutaway and chassis cab in North America, including 65 in the US. On these, the trailer brakes don't activate when pressing the brake pedal, and dealers need to update the powertrain control module software. Related Video: FORD ISSUES TWO SAFETY RECALLS AND ONE SAFETY COMPLIANCE RECALL IN NORTH AMERICA DEARBORN, Mich., Oct. 28, 2015 – Ford Motor Company is issuing two safety recalls and one safety compliance recall in North America. Ford is not aware of any accidents, injuries or fires related to these conditions. Details are as follows: Ford Motor Company issues safety recall for certain 2009-2010 Ford Edge and Lincoln MKX vehicles in North America for potential fuel tank issue Ford Motor Company is issuing a safety recall for approximately 129,000 2009-2010 Ford Edge and Lincoln MKX vehicles in corrosion states and provinces in North America for possible corrosion under the reinforcement brackets where the fuel tank is mounted to the vehicle.

UK Mustang buyers want big American V8s

Just before Ford ended its marketing partnership with Europe's UEFA Champions League soccer tournament last year, it showcased the 2015 Mustang during the event final in Lisbon, Portugal. Ford put 500 Mustangs up for pre-order to viewers in 20 countries, 130 of them right-hand-drive models for the UK. It didn't take 30 seconds for every car to be snapped up because almost 10,000 people tried to buy them. That's how hungry Europe is for the Mustang. That helps explain why orders for the pony car in the UK already number almost 2,000 units, which ties up production past July 2016. Ford UK released a few details on the order habits of that kingdom united, saying 80 percent have taken the coupe over the convertible, and 70 percent have gone for the 410-horsepower, 5.0-liter V8. That compares to 52 percent of US buyers taking the V8 instead of the V6 or the 2.3-liter Ecoboost. The UK V8 output number is 25 ponies down on our US model because of the switch to right-hand drive, the steering assembly location requiring a new exhaust manifold. The 2.3-liter EcoBoost is the only other engine offered there. The row-your-own set nips the slushbox crowd, 55 percent of buyers choosing the six-speed manual, and Race Red is the most popular of the ten available colors with 23-percent uptake. The graphic above breaks it all down, the press release below spells it all out. Related Video FIRST UK DELIVERIES IN SIGHT AS FORD MUSTANG ORDERS ACCELERATE TOWARDS 2,000 BRENTWOOD, Essex, UK, August 24, 2015 – Almost 2,000 Ford Mustang orders have been taken in the UK since January as the first right-hand drive cars begin to roll off the production line at Flatrock Assembly Plant in Michigan, North America. The Ford Mustang – introduced in the U.S. more than 50 years ago – has excited fans across the globe, but has never been available to order with right-hand drive, until now. The first UK customer deliveries are expected from November, with extra supply secured to meet the greater than expected demand. So far, 80 per cent of UK customers have opted for the fastback body style over the convertible and 70 per cent have specified the 416PS 5.0-litre V8 engine over the more fuel-efficient 317PS 2.3-litre EcoBoost engine. Mustang's six-speed manual transmission is the slightly more popular choice (55 per cent) over the six-speed automatic, which comes with sporty SelectShift paddle control.

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.