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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.

Lincoln MKC will be renamed the Corsair in 2021, probably

Lincoln will be renaming its MKC crossover, calling it the Corsair instead. Automotive News is reporting that the recently trademarked, yet storied Ford model name Corsair will be affixed on the 2021 model year crossover. The report says Ford has already told its U.S. dealers about the name at an Orlando meeting last month. Ford has a long history with the Corsair nameplate in the States and abroad: Most recently, it has been in use in Australia in the early 1990s, in the UK in the 1960s, and before that Ford offered an Edsel Corsair in the late 1950s. Even if an Edsel connection might not be the best possible thing for a Ford product, let alone a Lincoln, it might serve the crossover well as Ford moves to ditch the MK naming convention it's used for Lincoln for the past decade. Still, the manufacturer is said to have cautioned dealers it might opt out of using the Corsair name before production time. At the same meeting, Ford reportedly showed the next-generation Escape, the Explorer, a battery electric crossover dubbed the Mach 1, a yet-unnamed small SUV (which might be the Bronco) , and a new Lincoln Continental complete with suicide doors. The MKC will still receive a refresh for next year, retaining its letters-name for a couple of years before the bigger redesign for 2021. Currently, the MKC is the strongest-selling Lincoln product in China, and it brings in numerous new Lincoln customers there. In the U.S. it's outsold by the MKX crossover and is neck-and-neck with the MKZ sedan.

Shelby GT500 and Roush Stage 3 go head to head at the drag strip

The Ford Mustang is a brilliantly affordable source of horsepower, with a base 300-plus-horsepower version available for well under $30,000. Jumping up to about $35,000 will get you a solid 420 horsepower from a high-revving V8, while those with some extra disposable income can get a pair of 600-plus-horsepower monsters. Both the Roush Stage 3 with its Phase 3 package and Ford's factory Shelby GT500 even crest the 650-horsepower mark, with 675 and 662 ponies, respectively.
Naturally, someone needed to find out which of these hi-po Mustangs was the quickest. And while this video is quite obviously a dealership commercial, at least there's some solid drag racing between two of the most powerful performance machines available for under $100,000.
With two NHRA drag racers at the wheel, the Stage 3 and GT500 go head to head for three races. Scroll down below to see the results in the full video.