1968 Bronco 4x4 on 2040-cars

Auto blog

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.

Ford ready to install GE Wattstations at 60 locations in North America

Upper-level Ford executives are sending mixed messages about the power of plug-in vehicles, but in the companies parking lots across North America, at least, the signal is clear: come on and charge your EV. Today, Ford and GE announced that the Blue Oval will be installing Wattstation chargers at its Dearborn HQ and will then add units at more than 60 locations across the US and Canada, including "offices, product development campuses and manufacturing facilities." If you're a Ford employee, then you get four hours of free charging a day. That should be plenty to top off any of the company's plug-in vehicles, even the Focus Electric, and the time limit encourages drivers to swap cars at lunch, because Ford wants to encourage charging station sharing and get more employees to plug in. Ford doesn't mention the DOE's Workplace Charging Challenge by name in the release (available below), but we suspect these Wattstations are part of that project. Ford was one of the founding members, joining the Workplace Charging Challenge on January 31, 2013. On that date, the Ford Motor Company and Ford dealers had over 1,750 charging stations installed on company/dealer property. Ford, GE WattStation Chargers Support Employee Electric Vehicle Charging Network Ford to install its first employee electric vehicle charging station network in Dearborn, Mich.; facilities across the United States and Canada to follow Ford will work with GE as its network provider and supplier of electric vehicle charging stations; networked stations will help Ford understand charging usage and plan for future installations Ford electrified vehicles have logged an estimated 65 million electric miles over the last 18 months. Ford now offers six electrified vehicles, including Focus Electric, C-MAX Energi and Fusion Energi plug-in hybrids, and C-MAX and Fusion hybrid vehicles Ford Motor Company in conjunction with GE, will supply vehicle charging stations at Ford facilities nationwide, beginning with facilities in and around its headquarters. The announcement continues the innovative cooperation begun more than 100 years ago between Henry Ford and Thomas Edison, co-founder of GE. This month, Ford will begin installing GE WattStation™ charging stations across its North American campuses, developing a workplace charging network at nearly every Ford facility in the United States and Canada.

Ford to pay $17.35 million over Escape recall

Ford had a bit of a recall spree around this time last year, with a pair of issues on the then-new 2013 Escape, followed by a recall of 423,000 2001 to 2004 Escapes because they might accelerate of their own accord. Accordingly, Uncle Sam pasted Ford with a $17.35 million fine because it took too long to inform customers, according to a report from Automotive News.
Ford agreed to settle with the National Highway Traffic Safety Administration, accepting the fine but not admitting fault. The recall, which afflicted Escapes with the 3.0-liter V-6 along with 217,000 Mazda Tributes from 2001 to 2006 and 2008, was due to faulty gas pedals that could stay down after a driver removed their foot.
Ford issued a statement regarding the fine, saying, "We take the safety of our customers seriously and continuously evaluate our processes for improvements. While we are confident in our current processes for quickly identifying and addressing potential vehicle issues, Ford agreed to this settlement to avoid a lengthy dispute with the government."