Ford Thunderbird 2005 50th Anniversary Edition on 2040-cars

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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.

NHTSA opens investigation into Ford Explorer PI brakes

This year more than most, it's pleasant when we can string together a few days without word of an automaker or the National Highway Traffic Safety Administration announcing a bunch of new recalls. It's seemingly been a little quiet on this front lately (barring a spider-related Suzuki issue revealed early today), but now we have word of the government safety agency opening a Preliminary Evaluation into the 2013 Ford Explorer Police Interceptor, a probe that could potentially affect an estimated 20,000 vehicles.
The issue being investigated concerns failures of the front brake hose on the vehicle that show "small splits in the hoses near the body side ferrule of the hose assembly," according to the agency, and the issue could result in longer stopping distances. The feds have reports of 13 malfunctions affecting 11 Explorer units. However, it's important to note that all of the incidents come from a single, unnamed metropolitan police fleet that operates 46 of them. According to The Detroit News, the failures generally took place between December and July.
NHTSA is investigating further to find if this is a more widespread issue than just this one fleet. Ford spokesperson Kelli Felker confirmed to us, "We are cooperating with NHTSA on this investigation, as we always do." Scroll down to read the agency's report.

Ford looks to protect logo from Toronto mayor followers

One is a member of the Detroit Three and the maker of the Mustang, Fusion, Explorer and F-150. The other is an admitted loudmouthed, drunk-driving, crack-smoking mayor in Canada. Unfortunately for one, it shares its name with the other. Yes, Ford Motor Company is going to great lengths to keep its iconic Blue Oval logo from being appropriated by supporters of besieged Toronto mayor Rob Ford.
At a United Way event earlier this week, some of Mayor Ford's fans showed up with shirts that featured the automaker's logo with the words "Ford Nation," on them. Naturally, Mayor Ford signed them. FoMoCo was quick to issue an unhappy statement:
"Ford did not grant permission for use of its logo. We view it as an unauthorized use of our trademark and have asked it to be stopped," spokesperson Jay Cooney said. There was also a statement from Ford of Canada's Twitter account after a user alerted the company: