2006 Ford Mustang Gt on 2040-cars

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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.

2016 Ford Explorer First Drive [w/video]

I was still young and impressionable when Jurassic Park hit the big screen, and that movie forever imprinted the Ford Explorer in my mind. You remember the scene, but I'll describe it anyway: It's dark, raining and there's no power. The off-screen footsteps of a tyrannosaurus send shockwaves through the standing water in a plastic cup and the rain-soaked muddy roads. Seconds later, the toothy end of the movie's biggest predator crushes through the roof of a highligher-green-and-yellow Ford Explorer, causing all manner of mayhem to the SUV's occupants inside. It's not lost on me that the Ford Explorer used in the movie is, in reality, a dinosaur itself. When the seminal Explorer hit the scene in 1991 it was based on the guts of the Ranger pickup truck, which was no spring chicken itself. Ford's first real foray into the then-burgeoning SUV marketplace was meant to compete against vehicles like the Jeep Cherokee and Chevy Blazer, along with Japanese models such as the Nissan Pathfinder and Toyota 4Runner. In those early days, none of these vehicles were sold based on the merits of their car-like ride and handling or superior fuel economy. Nowadays, the discerning car shopper wants the looks of an off-road-ready SUV, but the inherent compromises and need for any serious rock-crawling capability faded away years ago. The current Ford Explorer is a prime example of this successful visual hypocrisy, with its SUV-like styling listed as the number-one reason for buying on customer surveys. SUV-like styling is one thing, SUV-like guts are another. In 2011 the Explorer went from its traditional truck-based chassis to Ford's D4 platform, based loosely on the Taurus and shared with the Flex. As with the rest of the unibody crossover world, that means the current Explorer offers an excellent ride, the higher seating position that buyers want, and a useful third row for growing families. None of that inherent family-car goodness goes away for 2016. With class-leading sales already in the bag, Ford hopes its latest Explorer will attract new buyers due to the availability of a 2.3-liter EcoBoost four-cylinder engine and an upper-crust Platinum trim level. Based on some time sitting inside and inspecting the high-content Platinum model (albeit without a drive in this trim level) I believe Ford's claim that this is most luxurious vehicle ever to wear a Blue Oval. Only not all its ovals inside are blue.

Ford posts record pre-tax Q3 profit of $2.6B

Ford took in $2.6 billion in pre-tax profits in the third quarter of the year, making for a record trio of months that saw the Blue Oval's year-over-year earnings increase by $426 million. The earnings are being attributed not just to improvements in North American sales, but sales around the globe.
Revenue was up 12 percent, to $36 billion, although net income took a hit, dropping $359 million to $1.3 billion. Ford was dinged with $498 million in pre-tax charges, which are being blamed for the drop in net income.
The news has boosted Ford's hopes for full-year results, bumping it's total profits up past $8 billion, according to Automotive News. The Dearborn, MI-based manufacturer is still expecting a loss in Europe, although it's forecasted less than the $1.73 billion it burned in 2012. In fact, according to CFO Bob Shanks, Ford's European losses dropped by 51 percent year-over year, a huge improvement for the brand.