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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.

Cosworth double-feature is XCar's a drool-worthy look back

While American fans of Ford performance cars in the '80s and early '90s were loving the 5.0 Mustang, Taurus SHO and, for those who wanted to be a little different, the Merkur XR4Ti, British fans of the Blue Oval were getting their own unique take on speed. The Sierra RS Cosworth (which was similar but not identical to the aforementioned Merkur) and later Escort RS Cosworth were the stuff of dreams with huge wings, hood vents and big power for their time and class. XCar Films aims to find out whether it is little more than nostalgia that makes these classics famous or it really is their legitimate performance. Thanks to its Formula One and racing success, Cosworth was already a well-established performance name in the UK by the time it began selling tuned engines to Ford for the Sierra and Escort. The Sierra RS Cosworth hit the scene in 1986 with a turbocharged, 2.0-liter four-cylinder engine with 204 horsepower and rear-wheel drive. Its huge wing at the back signaled it immediately as something special, and it proved to be a performance powerhouse on and off the track. When it was retired, Ford replaced it with the Escort RS Cosworth that used an upgraded version of the same engine with 217 hp, all-wheel drive and an even bigger rear wing to net yet more racing victories. XCar really gets into the spirit of the time, opening the video with the lo-fi grain of '80s and '90s TV, but to find out whether the Cossies stand up to modern scrutiny, you have to watch the video below. Stay tuned until the end to enjoy them at their best with some vintage motorsports footage. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ford reveals concept trucks that ultimately became Atlas

The Ford Atlas Concept was one of the quiet success stories of the 2013 Detroit Auto Show, and now Ford has given us a quick glimpse as to how that creation came to be. Designers actually combined two early sketches to build the Atlas. One, called the Bullet Train, is a futuristic, aerodynamic creation, while the other, aptly named the Locomotive, features the squared off proportions we're familiar with.
Once designers settled on the truck's proportions, they began nailing down exactly which attributes they wanted the final design to have. The Concept's notched windshield originated as a forked glass roof that seamlessly transitioned into the windscreen.
Likewise, designers wanted to fit the truck's tailgate with a storage compartment for tools and a first aid kit, but settled on the dual-purpose step/cargo cradle. Interestingly enough, the concept's active aero shutter wheels actually originated in some of the earliest sketches. Check out the photos and slides here for a closer look.