1926 Ford Model T 4 Dor Sedan Original Paint & Interior on 2040-cars

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Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.

Drive Ford's new Mustang in Need For Speed Rivals

If waiting for the all-new 2015 Ford Mustang to hit dealerships is just too tall of an order, you'll be happy to hear that there is now an alternative means of getting behind the wheel of America's favorite pony car. The Mustang is making its video game debut in Need For Speed Rivals.
"We worked closely with the development team at EA to provide them with engineering data for the new Mustang, several months before we showed it to the rest of the world," said Ford product licensing manager Mark Bentley. "Computer design models enabled the game developers to create an accurate representation of the new Mustang before it goes on sale."
Players will have access to five unique designs for the Mustang, allowing a degree of individuality beyond solid colors and decals. According to Digital Marketing Manager Andrea Zuehlk of Ford, those designs are drawn from the four most popular designs on the Mustang Customizer, an online, mobile and tablet app that allows the public to design their own custom Mustang. A fifth design, penned by drift racer Vaughn Gittin, Jr., is also available.

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.