2001 Ford Explorer, No Reserve on 2040-cars

Auto blog

Ford wins second consecutive Engine of the Year with 1.0L EcoBoost [UPDATE]

For the second year in a row, Ford has taken top honors in International Engine of the Year voting. As was the case last year, it is Ford's 1.0-liter EcoBoost engine that earns the automaker the accolade, achieving the highest-ever accumulated score in the 15 years that the award has been handed out.
A panel of 87 automotive journalists from 35 countries are responsible for choosing the world's best engines, and this is only the third time an automaker has managed back-to-back victories. Voters were impressed by the "Baby EcoBoost" engine's power output - 123 horsepower between 1,400 and 4,500 rpm, 148 pound-feet of torque from 1,400 to 4,000 rpm - and its compact size; Ford has demonstrated that the package is small enough to fit in the overhead bin of a passenger airplane.
Currently, the 1.0-liter EcoBoost is offered in the European Fiesta, B-MAX, Focus, C-MAX and Grand C-MAX, and Ford plans to put the engine in the Transit Connect, Transit Courier, Tourneo Connect, Tourneo Courier, Mondeo and EcoSport in short order. In North America, the Fiesta will be the first vehicle to offer the 1.0L EcoBoost later this year.

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.

Former Ford CEO Mulally won't run for president

Alan Mulally will not be following his successful term as president and CEO of Ford Motor Company with a run at an even bigger presidency. Rumors that the 68-year-old former Boeing exec would make a run at the White House sprouted after his apparent dodging of a reporter's questions about a potential candidacy during a forum in Indianapolis.
"I really think it's important that we all pull together. We really need to pull together around a compelling vision for our country and a comprehensive strategy to do it and work together. We really need to do it," Mulally said at the conference, according to The Detroit News.
He's since clarified by saying, "[I'm] honored at the suggestion, but that is not a role I am considering."