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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.

Next Ford Mustang to drop 400 pounds

The Ford Mustang is already the lightest of the current crop of muscle cars, at around 3,600 pounds for a GT coupe with the six-speed manual transmission. That's almost 260 pounds less than a Chevrolet Camaro SS and about 450 pounds less than a Dodge Challenger R/T, which means the Mustang has a pretty big advantage when it comes to handling, braking, accelerating and economy. More good news: The next Mustang will be even lighter.
According to a report from Edmunds, the sixth-generation Mustang, which is set to debut at the 2014 North American International Auto Show, will shed an additional 400 pounds of body fat. That 11-percent weight reduction will be thanks to lightweight materials, with a particular focus on using stronger, but less material in construction. Aluminum will feature heavily, but Edmunds' inside source warns that there is "nothing terribly exotic" coming to the original pony car.
The other big news is that the new Mustang will be smaller overall. It's going to be 15-inches shorter than the 188.5-inch Mustang on sale today, while it'll also be 6.5 inches narrower. Shorter overhangs, both in the front and rear, are also good signs for those that want an agile Mustang.

Ford Figo concept unveiled in India

Ford has officially unveiled the Figo Concept at the 2014 Auto Expo in New Delhi. While it may wear a concept badge, we'd argue this little sedan, which is under 12 feet long, looks ready to replace the current Figo and do battle with other B-segment cars in the world's emerging markets.
"With the Figo Concept, we are showing that choosing a compact sedan does not mean compromising on premium design or smart solutions," said Kumar Galhotra, Ford's VP of engineering, global product development. That premium design includes Ford's familial, trapezoidal grille and Fusion-esque headlights in front, while the rear end reminds us of the last-generation Focus Coupe. While that car wasn't exactly attractive, the chopped off tail looks pretty nice on this smaller car. And if you really don't like the looks of the Figo Concept, just remember - it looks better than the current production model. Aerodynamically, the Figo's shape is quite slippery, which means reduced wind noise and improved fuel economy.
As for the "smart solutions" touted by Galhotra, the narrow confines of Indian streets make driving even the tiniest cars a challenge. To give the Figo Concept a one-up on the competition, Ford has fitted power-folding mirrors that sport a "flexible architecture," which should stand up well to bumps from cars, people or bikes. We don't have any interior images, but Ford is promising a large cabin, that includes a dock that can accommodate a phone or MP3 player, allowing either to be controlled through the car.