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Ford, Renault, VW shareholder oppose French aid for PSA/Peugeot-Citro"en

Pots and kettles, glass houses and stones - that's a little of what we appear to have going on in the European car market. New reports say that that three European automakers have registered their opposition to a loan deal that PSA/Peugeot-Citroën is working on with the French government. Peugeot's finance arm, Banque PSA Finance, is struggling with its debts and has been downgraded by Moody's to its lowest investment-grade classification, one step above junk. This makes it more expensive for a potential buyer to finance a car through Peugeot. The last thing Peugeot needs is more difficulty selling cars in the tough European market, and the situation will only worsen if the bank's credit worthiness takes another hit.
A deal being worked on would have the French government offer €7 billion ($9B U.S.) in bonds to guarantee the bank's loans, which would give the institution some breathing room to manage its debts and lower its interest rates. Outside of that, a group of banks would provide other, non-guaranteed loans to the bank to further help its position. In exchange for state help, though, the government wants seats on Peugeot's board for worker representatives and a government liaison, along with factory and worker guarantees. The Peugeot family would maintain control of the company.
So what we have is government assistance being provided to a car company's finance arm, akin to the way General Motors' GMAC (now Ally Financial) and Chrysler Financial got help in their time of need. What we also have is Ford and Renault, and Germany's State of Lower Saxony, the second-largest shareholder in Volkswagen, voicing their concern about the proposal, because they say it could create an unfair competitive advantage for Peugeot. Everyone in Europe's down market is fighting for every sale, and if Peugeot gets help to keep its auto loan costs down, it figures to help buyers choose Peugeot or Citroën.

Ford upgrade kit takes Focus ST to 275 hp and 296 lb-ft

If you drive a 2015 Ford Focus ST but are already jealous of the 345-horsepower 2016 Focus RS that's on the horizon, Ford Performance has a new upgrade kit that could be a great compromise. Developed by the Blue Oval experts at Mountune, the MP275 setup takes the hot hatch's output to 275 hp and 296 pound-feet of torque when running on 93-octane fuel. Those are gains of 23 hp and 26 lb-ft, respectively. Providing much of the kit's extra oomph is a recalibrated ECU with more aggressive engine mapping. The company claims that the upgrade also improves throttle response, and it keeps the Focus ST 50-state emissions legal. In addition, customers get a Mountune high-flow intercooler, a new air intake, and all of the necessary hardware to mount the components in the engine bay. For those concerned about reliability, when an authorized Ford Performance technician installs the parts, the Focus maintains the factory warranty. The MP275 kit currently retails for $1,900 on the Ford Performance website. For added protection during harsh weather, customers can also get an end cap for the cone air filter for $15. Related Video: Ford Performance Upgrade Kit for 2015 Focus ST Boosts Output to 275 Horsepower, 296 Lb.-Ft. Torque • Ford Performance mountune Focus ST kit for 2015 optimizes performance without sacrificing reliability • Sold through Ford Performance Parts, the kit maintains the base car's factory-backed three-year/36,000-mile warranty • Package adds 23 horsepower and 26 lb.-ft. of torque DEARBORN, Mich., Aug. 18, 2015 – Focus ST customers can get more performance out of their vehicle thanks to a new kit from Ford. And on that front, the new Focus ST mountune upgrade kit delivers in spades. The idea of a street-legal, reliable, largely stock 2.0-liter four-cylinder engine making nearly 300 lb.-ft. of torque might have seemed ludicrous 10 years ago, but the components of the MP275 Focus ST performance upgrade not only combine to produce up to 296 lb.-ft. of torque with 93-octane fuel, they are designed for maximum reliability as well. "The 2015 Focus ST MP275 upgrade is the latest addition to Ford Performance's vast Focus and Fiesta performance catalog that gives enthusiasts the components they need to take their car to the next level," said Adam Gair, product manager, Ford Performance.

Chicago Auto Show: The really big reveals from shows past

The 2024 Chicago Auto Show may seem like a shell of its former self, but it still holds the title of the largest consumer auto show in the United States. It didn't get that reputation simply by being efficiently produced or convenient for locals desperate for something to do in February — it earned it over decades of breaking automotive news and powerhouse reveals, eventually earning an informal designation as America's truck show.  2024 may be a down year for Chicago, but let's not forget all of the great things that have come out of it, historically. Here's a look at some of our staff favorites. Bet you didn't know about a few of these cars that were first revealed in the Windy City.    2008 Dodge Challenger SRT-8  I didn't just pick this one as a former Challenger owner, but instead to illustrate just how many cool Chicago debuts we take for granted. Chrysler often chose its home turf to debut new cars, so the few times its unveilings happened elsewhere tend to stick in our minds. The first Challenger SRT-8 was kind of garbage, if we're being honest. I mean, who buys a race-bred, V8-powered muscle car without a limited-slip differential? But the SRT-8 formula evolved over time into something truly special, and what we saw in Chicago was essentially the early version of the Scat Pack, which was ultimately very successful for Dodge. And who would have thought we'd be here, 15 years later, still talking about that debut? And still loving these big Mopars, flaws and all. — Associate Editor Byron Hurd SHO time in Chicago IÂ’ll always have a certain fondness for the return of the Taurus SHO at the 2009 Chicago Auto Show. Chicago has always leaned truck and van heavy for press reveals, but every now and then, as this list illustrates, something spicy would appear. The return of the SHO as a high-powered successor to the original that ran from 1989-1999 gave enthusiasts hope for FordÂ’s performance business, especially for sedans. With a 3.5-liter EcoBoost V6 packing 365 hp, all-wheel drive and five-spoke wheels, the SHO was a nice upgrade from the lower-rung Taurus models. It was a bit more sedate than the original SHOÂ’s Yamaha-sourced V6 that teamed with a five-speed manual transmission, but still a worthy response to the Chrysler 300, Dodge Charger and later the Chevy SS. The SHO — Super High Output — begat things like the Fusion ST and gave Ford solid four-door performance for the rest of the decade.