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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.

MyFord Touch getting second update, extended warranty

There is no doubt that Ford has had its hands full fielding complaints with its MyFord Touch and MyLincoln Touch systems these days, but looking to keep its customers happy, Ford is once again upgrading its infotainment systems and extending the warranties. Despite having just sent out updates for its systems back in March, Automotive News says that customers are still complaining about the speed and ease of use.
Vehicles with MyFord Touch will now get a five-year, unlimited-mile warranty, while the MyLincoln Touch will have a six-year, unlimited-mile warranty. Previously, the systems were covered under basic warranties (three-year, 36,000-mile for Ford and four-year, 60,000-miles for Lincoln).
What is being referred to as "version 3.5" for the MyFord Touch and MyLincoln Touch systems will be mailed out (or downloaded) next month for owners of cars without navigation and in January for cars with nav. Owners of hybrids, plug-ins and electric vehicles will get the update sometime in the first quarter of next year.

Latest Forza Horizon 3 car pack features a Skyline and a fast Swedish wagon

The steady stream of Forza Horizon 3 car packs shows no signs of slowing down, and the latest Rockstar Energy Drink pack includes enthusiast favorites such as the R31 Skyline and the Volvo V60 Polestar. The car pack also features a couple of sporty two-doors and some off-road oriented machines. Luxury-minded players will be pleased to see both the Bentley Bentayga and BMW i8 make an appearance. People more concerned with ultimate performance will have a different pair to consider. Players will want to check out the Ford trophy truck for busting dunes, and the Radical RXC Turbo for race-car levels of pavement performance. Finally, yet another classic Aussie muscle car appears in the pack: the 1972 Ford Falcon XA GT-HO. For those interested in the new rides, this car pack is included in the Forza Horizon 3 Car Pass, or can be purchased on its own. If only one or two vehicles are must-haves, it's also possible to purchase the cars individually. Related Video: Related Gallery Forza Horizon 3 Rockstar Energy Car Pack Image Credit: Turn10 Studios / Playground Games Toys/Games Bentley BMW Ford Volvo Videos bentley bentayga nissan skyline volvo v60 polestar forza horizon 3