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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.

How the Ford F-150 SVT Raptor became a reality

The camouflaged Ford F-150 SVT Raptor prototype captured above blazing its way across the desert during a test run left company engineers giggling in amazement, reveals Jamal Hameedi in a new Autoweek video. Ford's global performance vehicle chief engineer, accompanied by senior exterior designer Bruce Williams, sat down with the publication to discuss the concept and development of the automaker's super off-road F-150.
Designing a high-performance pickup in 2008, right when the cost of gasoline was going through the roof, seemed insane at the time, but the team pushed forward with the innovative vehicle regardless. The interview includes plenty of Ford B-roll footage as visual candy, and the conversations include discussions about exterior design, ride comfort, anti-lock brake tuning, suspension engineering, weight reduction and why it was necessary to make the Raptor visually different than Ford's standard F-150. The model's origin story is very interesting, and you can learn more about it by watching the video below.

Enterprise working with renter's insurance to cover $47k Mustang stolen from its lot

There was more than a bit of public indigence following the recent story of Enterprise Rent-A-Car billing a customer $47,000 to replace a Ford Mustang GT Convertible stolen from a Nova Scotia lot. To recap: Kristen Cockerill rented the Mustang for two days, returned it to the lot on a Sunday and left the keys in a secure dropbox only for Enterprise employees to find the car gone the next day.
Despite Enterprise policies stating that customers are responsible for vehicles dropped on off-days, the company has admitted that the situation could've been handled a bit better.
In a recent statement, Enterprise has backed off the big-bill story, and claims to be working with Cockerill and her insurance company to resolve the issue. Further, the Enterprise general manager overseeing Nova Scotia has spoken with the harried renter, and apologized "for the way this claim was handled during the last few months."