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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.

Ford director says company has big efficiency plans, but no dedicated EV

The annual autofest known as the North American International Auto Show previews a plethora of exciting new products that we'll see and drive later in the year, from tiny urban commuters to family sedans and crossovers to hard-working big pickups and SUVs. It's also a once-a-year cornucopia of auto executives and leaders from around the world. "There will be some really fun stuff that you'll hear about in the future" - Ford's Kevin Layden So, in-between dozens of cool new-product unveilings on rotating stages during the two press days preceding the public show, we auto scribes grab what planned and impromptu interviews we can. Sessions with top industry leaders can be hard to get, but I was able to score a seat in a group session with then-General Motors North America president (now executive VP of global product development) Mark Reuss, and I also managed brief one-on-ones with a trio of vehicle electrification leaders, one each from Ford, BMW and GM, and what they said then remains relevant now. First up is Kevin Layden, Ford's Director of Electrified Powertrain Engineering. ABG: Where will Ford go beyond its current Focus EV and hybrids, and will there be a Ford EV and/or hybrid on its own energy-optimized platform one day. KL: We don't want to do a dedicated electric vehicle with all the development costs borne by a niche product. At the Michigan Assembly plant right now we're building the Focus electric, PHEV and EcoBoost on the same assembly line. Also the C-Max, with both a hybrid and an Energi plug-in, and we use that same power pack in the Fusion Hybrid and Energi. We want to be, "The power of choice" [a Ford marketing slogan], so having that choice for customers is very important. And if I want to sell the Fusion, Focus and C-Max globally, we can use these power packs wherever it makes sense. So as we go forward, you'll see us proliferating the power packs we have today. Then the question is, what do we do next? There will be some really fun stuff that you'll hear about in the future. ABG: Is the efficiency difference between a dedicated ultra-efficient vehicle platform and a shared multi-use platform getting smaller as all platforms get more efficient? KL: Exactly. Were going through aero studies now on wheels and tires and hood sealers on base vehicles. We have full aerodynamic wind tunnel studies going on with the base Focus and C-Max, so all of that [aerodynamic improvement] will be there for EVs.

Ford of Europe celebrates Mondeo's 20th anniversary

Ford's European operations are celebrating a milestone of sorts as the Mondeo, the Blue Oval's bread-and-butter D-segment sedan in the old country, celebrates its 20th anniversary. The mid-sizer, which was sold in the US for a short time as the Contour, has been a far more popular vehicle in Europe - even receiving regular praise from one Jeremy Clarkson.
Narrated by Cockney actor Ray Winstone, the video goes through the Mondeo's years and how it's evolved from 1993 to the as-yet-unreleased fifth-generation model, which is essentially the same as the Ford Fusion that's sold in America. Take a look below for the full video from Ford of Europe.