2002 Ford Taurus Sedan on 2040-cars

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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.

2016 Tech of the Year | Autoblog Minute

Deliberation on the winners of Autoblog's Tech of the Year Award is under way. Nominees for best car in 2016 are: the Tesla Model S, the Chevy Volt and the BMW 7 series. Nominees for best tech in 2016 are: Apple CarPlay, Android Auto, VW's MiB II with AppConnect, Ford Sync 3, Audi Virtual Cockpit, the Smart Cross Connect App, and Volvo Sensus. Autoblog's Chris McGraw reports on this edition of Autoblog Minute. Audi BMW Chevrolet Ford smart Tesla Volvo Technology of the Year Autoblog Minute Videos Original Video volt android auto ford sync 3

Ford recalls 200K Escape, Transit Connect models over instrument panel

Ford is announcing two new recalls that cover a total of 203,494 vehicles in North America. By far the larger of the campaigns is a recall for 203,445 examples of the 2014-2015 Escape and Transit Connect in North America. Specifically, there are 182,520 units recalled in the US, 18,226 in Canada, and 2,699 in Mexico. For these models, the instrument cluster, warning messages, lights, and chimes might not work at startup. This problem puts the vehicles out of compliance with the federal motor vehicle code, and the fix is a software update. The other recall is minuscule and only affects 49 units of the 2015 Transit that are owned by a single fleet customer. The company's vans have a specially ordered front passenger seatbelt, but the parts aren't labeled correctly under the federal code. Everything works properly, though, according to Ford. The fix is simply a new decal with the required info. No accidents or injuries are known to be related to either of these two recalls. Related Video: FORD ISSUES TWO SAFETY COMPLIANCE RECALLS IN NORTH AMERICA DEARBORN, Mich., June 24, 2015 – Ford is issuing two safety compliance recalls in North America. There are no accidents or injuries attributed to these conditions. Details are as follows: Ford issues safety compliance recall for certain 2014-2015 Transit Connect and Escape vehicles for instrument panel issue Ford Motor Company is issuing a safety compliance recall for approximately 203,500 2014-2015 Transit Connect and Escape vehicles in North America for an issue with the instrument panel cluster. When starting the vehicle, the instrument cluster, warning chimes, messages and warning lights may not work, which is a compliance issue with FMVSS 101 and other applicable FMVSS requirements. If these displays don't work as intended, it could increase the risk of a crash. Ford is not aware of any accidents or injuries associated with this issue. Affected vehicles include certain 2014-2015 Transit Connect vehicles built at Valencia Assembly Plant in Spain, May 13, 2014 to Dec. 10, 2014 and certain 2014-2015 Escape vehicles built at Louisville Assembly Plant, May 19, 2014 to Feb. 6, 2015. There are 203,445 vehicles in North America, including 182,520 in the United States and federalized territories, 18,226 in Canada and 2,699 in Mexico. Dealers will update the instrument panel cluster software at no cost to the customer.