2004 Ford F-250 Super Duty Lariat Extended Cab Pickup 4-door 6.0l 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.

Gary Cooper's 1935 Duesenberg SSJ fetches record price at Pebble Beach

The 1935 Duesenberg SSJ formerly owned by Gary Cooper sold for a jaw-dropping $22 million over the weekend at the Gooding & Co. Pebble Beach auction, setting a record for the most valuable pre-war car ever sold at auction. It also appears to have become the most expensive American collector car ever sold at auction, eclipsing the very first Shelby Cobra ever made, which sold for $13.75 million in 2016. The Duesenberg was also the lone American-made entrant in the list of top 10 sellers, which was crowded with the names Ferrari and Porsche. You have to go all the way down the list to No. 21 to find the next American car: a 1930 Packard 734 Speedster Phaeton, which sold for a mere $1.127 million. All told, Gooding & Co. said it realized more than $116.5 million in auction sales over the weekend, with a whopping 25 cars sold for north of $1 million, an 84 percent sales rate and an average transaction price of $947,174. Clearly this is how the other half 1 percent lives. Gooding & Co. said there were five world-record sales at the auction. Joining the Duesenberg were a 1955 Ferrari 500 Mondial Series II, which sold for $5.005 million; a 1958 Ferrari 250 GT Tour de France Berlinetta, $6.6 million; a 1967 Ferrari 330 GTC Speciale, $3.41 million; and a one-of-two 1966 Ferrari Dino Berlinetta GT, $3.08 million. Oh, and that 1969 Ford Bronco test vehicle we told you about? The one that was rebadged by Holman & Moody as a Bronco Hunter? It sold for $121,000, which was well below the expected range of $180,000 to $220,000. Perhaps it was the presence of all those gorgeous Porsche Spyders and Ferraris that meant collectors weren't interested in boxy, utilitarian off-roaders. View 24 Photos Gooding and Co. had expected the convertible Duesenberg coupe to go for more than $10 million. It was one of only two of its kind built by Duesenberg — the other having gone to Clark Gable — with a specially shortened, 125-inch wheelbase and a supercharged straight-eight with double overhead cams, able to produce around 400 horsepower and a top speed of 140 miles per hour. It features a lightweight open-roadster bobtail body produced by LaGrande out of Connersville, Ind. The car was also owned at one point by race driver Briggs Cunningham.

After Years Of Delays, Rear Visibility Requirements Move Closer To Reality

Regulations that would require automakers to improve rear-view visibility on all new cars and light trucks are nearing completion after six years of delays. The U.S. Department of Transportation sent its proposed rear-visibility rules to the Obama administration for review on Christmas Day. The White House Office of Management and Budget now must finalize the regulations. The rule are intended to minimize the risk of pedestrian deaths from vehicles in reverse, a type of accident that disproportionately affects children. Already in 2014, two children have died from cars backing over them, driven in each case by the children's father. Specifics of the Transportation Department's proposal are not available during the review, but the rules are expected to compel automakers to install rear-view cameras as mandatory equipment on all new vehicles. That's what safety advocates have wanted all along. Thought they were pleased the proposed ruling had finally been issued, there was some worry Friday the final rules would omit the rear-view camera mandate. "We're encouraged, but we're also a little concerned about speculation the rear-view camera may not be in there," said Janette Fennell, the president and founder of Kids and Cars, a nonprofit organization dedicated to protecting children in and around vehicles. "I'm wondering where that might be coming from." On Thursday, The Automotive News had reported the possibility the new standards could offer an alternative to rear-view cameras, such as redesigned mirrors, that improved visibility. The Office of Management and Budget typically completes its reviews of new rules in 90 days, although that can be extended. OMB officials said Friday they do not comment on pending rules. The intent of the rules is to enhance rear visibility for drivers and prevent pedestrian deaths. Approximately 200 pedestrians are backed over in the United States each year, according to estimates from the National Highway Traffic Safety Administration. Accidents Mostly Affect Children Roughly half the victims are children younger than age five. A government analysis concluded approximately half the victims -– 95 to 112 -– could be saved with new regulations. Yet the rules have arrived at a glacial pace. President George W. Bush signed legislation that had been passed with bipartisan Congressional support in 2008. But automakers have fought the idea of adding rear-view cameras, saying it is too expensive.