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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.

2019 Chevy Silverado 1500 vs. 2019 Ram 1500 vs. 2018 Ford F-150: How they compare

The full-size pickup truck market is seriously hot right now. Both Ram and Chevrolet have introduced completely redesigned trucks, the 2019 Ram 1500 and the 2019 Chevy Silverado, and as the companies slowly roll each one out, more and more information comes to light. We've put together this comparison post to help you keep track of all the features and specifications of each of these new models, along with the updated 2018 Ford F-150. Among the stats we'll take a look at are engines, power, fuel economy, trim levels, weight and more. Weight savings Both the 2019 Ram 1500 and 2019 Chevy Silverado 1500 have gone on a diet for the new model year, similar to the one the F-150 went on in 2015. The Silverado is the weight-loss leader, having shed 450 pounds when comparing quad-cab V8 models. The Ram 1500 lost 225 pounds compared to the current truck. Both trucks achieve their weight loss in part due to the use of aluminum parts. On the Silverado, the hood, doors, and tailgate are aluminum, while on the Ram, just the hood and tailgate are aluminum on the body. Compare that to the F-150, which uses aluminum for all exterior body panels for a total weight loss of up to 732 pounds, which makes the aluminum-intensive F-150 the weight-loss leader. View 160 Photos Engines and transmissions There's only a bit of overlap in powertrains on the Ram 1500 and Chevy Silverado. Each has a V8 for the top engine. The Ram's is a 5.7-liter Hemi V8 making 395 horsepower and 410 pound-feet of torque. The Silverado will once again use a 6.2-liter V8 as its range topper with the same 420 horsepower and 460 pound-feet of torque as the current model. Both of these V8s boast some extra fuel saving technology. The Chevy's 6.2-liter (and some 5.3-liters) comes with the company's latest cylinder deactivation system that can shut off any or nearly all of the eight cylinders. The Ram's V8 boasts an optional 48-volt mild-hybrid system that, in addition to likely helping fuel economy, can provide up to 130 pound-feet of torque right off the line. With the Ram, fuel economy sees an improvement of 2 mpg in the city and combined ratings for 17 and 19 respectively. Highway fuel economy improves by 1 mpg to 23 with two-wheel drive and 22 with four-wheel drive. The Silverado's 6.2-liter V8 only improves city fuel economy by 1 mpg to 16, and actually loses 1 mpg on the highway. The new 5.3-liter engine with the fancy cylinder deactivation does see an improvement over the simpler version.

2023 Grand National Roadster Show Mega Photo Gallery | Hot rod heaven

POMONA, Calif. — From an outsider's perspective, it would be easy to assume that the Grand National Roadster Show has always been a Southern California institution. After all, it celebrates the diverse postwar car culture of the region — hot rods, lead sleds, lowriders, and more. However, the show had its roots in NorCal in 1950 when Al Slonaker and his hot rod club showed their custom cars at the Oakland Expo. The GNRS moved to Pomona, California, in 2004. By then it had grown exponentially and seen about a dozen more car customization trends come and go. However, the show and its centerpiece award, the America's Most Beautiful Roadster prize, celebrate what is perhaps the first of those trends: the American hot rod in its purest form. Today, in its 73rd year, the GNRS is the oldest indoor car show in America. Annually it welcomes 500-800 cars, gathered into special themes like Tri-Five Chevys or Volkswagen Bugs. At this year's show, which was last weekend, a special hall was dedicated to pickup trucks built between 1948-98, including mini-trucks, groovy camper bed conversions, and resto-mods.  However, of all the vehicles presented, only nine are eligible for the America's Most Beautiful Roadster award. Winners get their names engraved on a 9-foot-tall perpetual trophy that was, according to The Ultimate Hot Rod Dictionary, the largest in the world when it debuted in 1950. Slonaker chose the word "roadster" initially because "hot rod" bore slightly negative outlaw connotations in 1950. Only American cars built before 1937 of certain body styles — roadsters, roadster pickups, phaetons, touring cars — are eligible, and they cannot have roll-down side windows.  Cars in the running for the cup cannot have been shown anywhere else before their debut at the GNRS.  Contestants for this accolade essentially build their cars to the a platonic ideal of a hot rod. This year the honors went to Jack Chisenhall of San Antonio, Texas, for his "Champ Deuce," a 1932 Ford Roadster. It's exactly what you picture when you think of a hot rod, but distilled to its absolute essence.  Other standouts included "Green Eyes," a two-tone green 1959 Chevy El Camino  with a heavily metal-flaked bed, "Blue Monday," a 1964 Buick Riviera lowrider, and a personal favorite, "Purple Reign," a purple and black 1951 Mercury. Cars may have started out as tools, but there aren't shows like this filled with custom refrigerators.