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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.

Ford and Mercedes join Renault in French emissions investigation

The French government is investigating certain models from Ford, Mercedes-Benz, and Renault because they allegedly produce more nitrogen oxide than the country's pollution rules allow, according to Automotive News, citing a French newspaper. After VW's emissions scandal, French regulators began checking more vehicles for evidence of defeat devices and excessive real-world pollution. According to Automotive News, the Mercedes S350 allegedly showed inconsistent results across these tests, and a Ford C-Max had NOx levels five times over the limit. The Renault Captur crossover, Espace, and an unnamed utility vehicle also had results that were too high. The French testing for this investigation includes an on-road emissions check that's not part of the EU's normal evaluations, which some automakers claim is unfair. "Unofficial on-road testing has varying conditions and can produce significantly different results," a Ford of Europe spokesman told Automotive News. Renault representatives met with French officials on January 18 to explain the situation. The company later submitted a plan to recall 15,800 examples of the diesel Captur, and said it would offer a voluntary software upgrade for about 700,000 other vehicles, according to Automotive News. Representatives from Ford and Mercedes will meet with the government soon, too. Renault's stock price plunged last week after investors heard that French regulators searched three of the automaker's sites as part of the emissions investigation. The stockholders feared an environmental scandal like the one currently embroiling Volkswagen. There's one major difference – as of now, there's no evidence Renault equipped any of the polluting models with defeat devices. Related Video:

Chris Harris pits Fiesta ST against Mercedes G63 AMG in 0-60 battle... sort of

Vehicle performance tests are serious business, with reputations made or broken by things like braking distance, top speed, and lateral g-forces. King of the metrics, though, is the 0-60 run, which for unknown reasons has become the benchmark for what truly makes a car a performance machine.
Now, Chris Harris from Drive has turned the whole idea behind the sprint to 60 on its ear. Taking a new Ford Fiesta ST, Harris asks a simple question: would the ST be quicker to 60 on its own, or on a trailer being towed by a Mercedes-Benz G63 AMG?
It's a fair question, really. The Fiesta Harris tested hit 60 in 7.2 seconds on a slightly uphill section of runway. It should be noted that Harris quotes his ST at 182 horsepower, which is about 15 ponies less than what we're getting in the US, so these numbers might not hold up all that well against an American model. The G63 AMG, meanwhile, is a 536-horsepower monster, powered by a twin-turbo V8 that, able to propel the big SUV to 60 mph in just 5.2 seconds without towing a Fiesta.