2006 Volkswagen Jetta Gli 2.0t Sedan 4-door 2.0l on 2040-cars

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2021 Ford Mustang Mach 1 revealed, plus driving the BMW M8 Convertible | Autoblog Podcast #632

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Producer Christopher McGraw and News Editor Joel Stocksdale. Before they get to this week's big news, they talk about the cars they've been driving, including the Toyota Land Cruiser, Range Rover Velar SVAutobiography Dynamic Edition, BMW M8 Convertible and BMW 840i coupe. Then they talk about Ford's big reveal of the 2021 Mustang Mach 1. Finally, in lieu of the regular Spend My Money segment, they talk about how Joel recently spent his own money on the newest edition to his personal fleet, a 2013 Volkswagen Beetle. Autoblog Podcast #632 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2020 Toyota Land Cruiser 2020 Range Rover Velar SVAutobiography 2020 BMW M8 Convertible 2020 BMW 840i Fords reveals 2021 Mustang Mach 1 Spend Joel's Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Former chairman Piech opposing his nieces' VW board nominations

Someone needs to option the rights to the Ferdinand Piech story for an HBO series, because it perfectly mixes the corporate intrigue of Mad Men with the family drama of The Sopranos. Plus there are some cool cars. In the latest episode, Piech isn't happy with Volkswagen's appointment of two of his nieces – Julia Kuhn-Piech and Dr. Louise Kiesling – to replace he and his wife on the automaker's supervisory board. The recently ousted chairman could try to stop them. According to German publication Bild, Piech thinks his two relatives lack the necessary automotive experience to serve on the board. Therefore, he suggests one-time Ford Premier Automotive Group boss Wolfgang Reitzle and former Siemens manager Brigitte Ederer to take the seats. However, a VW spokesperson told Automotive News Europe that there were no objections to the women's appointment, except for this story from Germany. Piech's nieces are already officially appointed to the VW supervisory board, and it's approved by the Braunschweig Local Court in Germany. His only real option to challenge them would be to file a lawsuit, according to Automotive News Europe. While the new appointees don't have their uncle's decades of history in the auto industry, they do have business experience. Dr. Kiesling has a degree in vehicle design from the Royal College of Art in London and is the managing director of an Austrian textile maker. Kuhn-Piech works in real estate sits on the supervisory board of German truck maker Man.

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.