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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.

Paul and Todd from Everyday Driver | Autoblog Podcast #477

Episode #477 of the Autoblog Podcast is here. This week, Dan Roth is joined by guests Paul Schmucker and Todd Deeken of Everyday Driver to talk cars, podcasting, and more. It's a freewheeling chat, and it all starts with the Autoblog Garage - check it out! Check out the rundown with times for topics, and thanks for listening! Autoblog Podcast #477 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics EveryDay Driver In The Autoblog Garage 2016 Buick Cascada Ford Mustang Boss 302 vs. Shelby GT350 Hosts: Dan Roth Guests: Paul Schmucker, Todd Deeken Total Duration: 01:08:20 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 Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Buick Ford buick cascada cascada

New Forza 6 car pack will let you race the Pontiac Aztek

Just in time for this weekend's Rolex 24 Hours of Daytona, the new Alpinestars Car Pack for Forza Motorsport 6 on the Xbox One lets you slip into the driver's seat of last year's winner. If you want to take something much weirder for a spin, the collection also includes a 2005 Pontiac Aztek. The download is available now for $6.99. The Ford #02 Chip Ganassi Racing Riley Mk XXVI Daytona was in a four-car battle early in last year's race, but it eventually was victorious. Forza Motorsport 6 also challenges drivers who download the car to a new Rivals event around Daytona, and the fastest people could win Alpinestars prizes. If you're nostalgic for a classic Daytona racecar, this pack includes Mercury #15 Whistler Radar Cougar XR-7. The V8-powered beast won the IMSA GTO class in the 24-hour event in 1990. It should be fun around the game's longer road courses like Road Atlanta. This collection also has an eclectic mix of vehicles that aren't racecars. The controversial Aztek and the equally-controversial 1996 Subaru SVX take their places beside a lineup that offers drivers three eras of performance cars – a 1967 Sunbeam Tiger, 1974 Toyota Corolla SR5, and 1992 Alfa Romeo Milano Quadrifoglio Verde. The video below shows all of them in action. Race to the Finish Line with the Alpinestars Car Pack for Forza Motorsport 6 By Xbox Wire Staff posted on January 27, 2016 at 8:00 am With the racing season set to kick into full gear during this weekend's Rolex 24 Hours of Daytona race, Forza fans now have a chance to get their own taste of endurance racing glory with the Alpinestars Car Pack for Forza Motorsport 6, available on Thursday, Jan. 28. Leading off the pack of seven cars is last year's 24 Hours of Daytona winner, the 2015 Ford #02 Chip Ganassi Racing Riley Mk XXVI Daytona Prototype. The prototype will be fielded in this weekend's race, which begins at 2 p.m. EST on Saturday, Jan. 30 and can be viewed live on Fox Sports 1 in the U.S. The Alpinestars Car Pack features six additional cars, each with a unique pedigree all its own. From the 1990 Mercury #15 Whistler Radar Cougar XR-7 – also a competitor in Daytona 24 Hour events of years past – to the inimitable 2005 Pontiac Aztek (famous more for its fictional owner than its performance), this pack has something for every kind of car fan. Forza Motorsport 6 is the only game where players can drive last year's Rolex 24 Hours of Daytona winner on the recently remodeled Daytona International Speedway.