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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.

Ford Focus PHEV on the way?

A refreshed Ford Focus is in the works and that means a few details are leaking out. Spy shots from last month indicated the Focus will have a gaping grille just like its "One Ford" global C-segment comrade, the Fiesta. While Ford is being quiet about it, the Focus could also be getting an "Energi" option, joining the C-Max Energi and Fusion Energi in Ford's plug-in hybrid family. The Focus will likely use technology originated in the C-Max Energi that combines a 2.0-liter gasoline engine with an electric motor capable of a 20-mile range, according to Autoexpress. The pure electric Focus is expected to stay in the lineup despite its slow sales; its price range should be similar to what's on the market now. The third-generation Focus looked good enough to become the top-selling nameplate in the world in 2012. Some exterior changes to look for in the Euro-spec model at the Geneva Motor Show in March include a reshaped hood, front wing endplate and rear bumper. Interior spy shots have hinted at an updated dashboard design and a simplified, less cluttered control panel with updated climate controls. Under the hood, there are quite a few power options rumored to be available - a gasoline EcoBoost with up to 123 horsepower and two turbo-diesel TDCI options, a 1.6-liter or 2.0-liter mills that would produce between 94 hp and 161 hp. Then there are new 1.5-liter diesel and 1.5-liter EcoBoost gasoline variants that meet regulations in China, Brazil and Russia.

Watch NASCAR racer Brad Keselowski do a burnout... in a hotel conference room

A vast majority of hotels frown upon smoking inside the building these days, but Brad Keselowski doesn't follow the rules. During his introduction at the 2013 MiilerCoors Distribution Convention, the reigning NASCAR Sprint Cup champion smoked the tires of his Miller-sponsored Ford Fusion stock car, adding a pair of thick, black stripes to the carpeting of the Marriott World Center's conference room.
This definitely isn't a high-quality video, but it's the perfect vantage point to watch Keselowski lay down some rubber and receive a well-deserved standing ovation after pulling up in front of the crowd. Check out the short-but-sweet video posted below.