1940 Ford Custom Coupe on 2040-cars

Auto blog

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, Petty's Garage to build limited-edition Mustang GT from SEMA Show

The customized vehicles on display at the annual SEMA Show are often just there to exhibit a company's wares. They are more an illustration of what's possible by picking the right bits out of a catalog, rather than a model available in complete form. Ford and Petty's Garage are doing something a little different, though, by putting a very limited run of the tuner's supercharged Mustang GTs up for order through Blue Oval dealers. The Petty's Garage Mustang GT made its debut with a host of other modded 'Stangs at the 2014 SEMA Show. It featured a blue-and-black two-tone paint job and a supercharged version of the pony car's V8 under the hood. Just 143 of them are now being offered to customers – 100 in Stage 1 trim and 43 in Stage 2 form. At a starting price of $62,210, Stage 1 buyers get the aggressive body kit from the show car, including a center-exit exhaust at the rear, trunk lip spoiler and a set of 20-inch wheels. Although the real meat of the setup is a supercharger, cold air intake and retuned engine calibration also help take the output up to 627 horsepower. Inside, customers get "The King" Richard Petty's signature on the dashboard. Shelling out $92,210 for the Stage 2 version adds bigger brakes from Wilwood, HRE three-piece wheels and the two-tone paint job from the SEMA show car. The boosted Mustangs can be ordered from Ford dealers, but at least one of the Stage 2 versions is already sold. Rocker and car enthusiast Brian Johnson of AC/DC bought the first one. FORD AND PETTY'S GARAGE TEAM UP TO BUILD LIMITED-EDITION MUSTANG GT Ford dealerships to offer 143 limited-edition Petty's Garage-tuned Mustang GTs; a Stage 1 version and an even more exclusive Stage 2 version will be available All Petty's Garage Mustang GTs feature Ford Racing/Roush supercharger boosting output to 627 horsepower*, as well as unique exterior and interior treatments including Richard Petty's signature on the dashboard AC/DC's Brian Johnson ordered the first Petty's Garage Stage 2 Mustang GT – the rock 'n' roll legend's first-ever domestic vehicle purchase DEARBORN, Mich., Feb. 19, 2015 – Ford Motor Company and Petty's Garage are teaming up to build a new 627-horsepower* Mustang GT – a limited-edition fastback inspired by the popular Petty's Garage Mustang GT on display at last year's SEMA show in Las Vegas. "We received a tremendous amount of positive feedback about our Petty's Garage Mustang GT displayed at the SEMA show," said Jeff Whaley, Petty's Garage COO.

2023 Chicago Auto Show Mega Photo Gallery: See all the new cars from the show

The 2023 Chicago Auto Show played host to a number of reveals this year, and we were there to capture all of them. In traditional auto show fashion, that means you’re getting a mega gallery of galleries to flip through and see all the vehicles on the show floor. Our EditorsÂ’ Picks from the show are already out — spoiler alert, the 2024 Toyota Grand Highlander took home the prize. That said, there were other important reveals like the 2024 Volkswagen Atlas and Atlas Cross Sport and the 2024 Subaru Crosstrek. We also learned some interesting tidbits, such as the fact that VW is considering a pickup, and Jeep owners really are plugging in. To see the photos, scroll on down and start flipping through those galleries.   2024 Toyota Grand Highlander 2024 Toyota Grand Highlander View 7 Photos 2024 Volkswagen Atlas 2024 Volkswagen Atlas View 14 Photos 2024 Volkswagen Atlas Cross Sport 2024 Volkswagen Atlas Cross Sport View 7 Photos 2024 Ford Mustang Dark Horse with its carbon fiber wheels 2024 Ford Mustang Dark Horse with carbon fiber wheels View 7 Photos 2024 Chevrolet Corvette E-Ray 2024 Chevrolet Corvette E-Ray View 10 Photos Jeep Wrangler Anniversary Editions Jeep Wrangler Anniversary Editions View 3 Photos 2023 BMW XM 2023 BMW XM View 6 Photos Ram Revolution Concept Ram Revolution Concept View 6 Photos NASCAR Chicago Street Race Pace Car — Toyota Camry NASCAR Chicago Street Race Pace Car ? Toyota Camry View 4 Photos Everything else at the 2023 Chicago Auto Show Lamborghini Countach LPI 800-4 View 12 Photos Related video: Chicago Auto Show BMW Buick Chevrolet Ford GM GMC Hummer Jeep Lamborghini RAM Toyota Volkswagen Truck Coupe Crossover SUV Concept Cars Electric Hybrid Luxury Off-Road Vehicles Performance Supercars Sedan