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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.

Reflecting on the Ford GT on its 10-year anniversary

Ten years ago, during the bright-eyed enthusiasm of the early 2000s and before the collective automotive industry did its best Titanic impression, we had the Ford GT. An everyman's supercar like there'd never been (remember, this was before 638-horsepower Corvettes were a thing), the GT arrived with a supercharged, 5.4-liter V8 that produced 550 horsepower and graced this retro-styled rocket with an easy, sub-four-second sprint to 60 miles per hour.
Equal to the GT's performance were its looks. Inspired by the GT40 racers that dominated Le Mans and bested Ferrari in the 1960s, the sleek, low, almost-reptilian look of the GT was the absolute pinnacle of the retro styling that so defined the early 2000s.
Crank and Piston put together a video celebrating the ten-year-old GT, arguing that Ford is a bit too busy with the next-gen Mustang, which turns 50 next week, to do it themselves. In the short clip, there is gratuitous engine noise and supercharger whine, not to mention scenes of the white-on-red GT prowling the deserts and streets of Dubai. It's a bit short, but very nicely shot. Scroll down, have a look and be sure to turn up those speakers before getting started.

Latest Forza Motorsport 5 car pack leaves us scratching our head (in a good way) [w/video]

As we scrolled down the roster of the latest car pack for Forza Motorsport 5, the Hot Wheels Car Pack, our expression became bemused over the strange mix of vehicles that we now have at our disposal. This is quite unlike any of the other sets of DLC Turn 10 Studios has offered. Sure, there are the typical headliner cars – the Lamborghini Veneno and 2015 Audi S3 – that will appeal to the mainstream racing fan or auto enthusiast. But this latest car pack is so jammed full of nuggets of automotive weirdness that it's hard not to get excited. The Hot Wheels pack has no shortage of racers, with a particular focus on historical offerings. A 1939 Auto Union Type D covers the pre-war era of Formula One, while a 1967 Lotus 49 and a 1952 Ferrari 375 represent post-war racing. For a modern twist, a Mazda USF2000 car slots in below the Indy Lights car from the Nurburgring booster pack. From here, things get vintage and weird. There are a pair of delightfully offbeat coupes, in the form of a 1974 Toyota Celica GT and a 1973 Ford XB Falcon GT (here's hoping we get a vintage Holden Monaro in the future). Those two are joined by a 1956 Ford F-100, which your author already plans on converting into a dragster with vinyl flames down the side (because that's what all vintage pickups should be). The new ride we're most excited about, though, is the 1983 GMC Vandura G-1500. Yes, that's the van from The A-Team, and we're sure it will prove to be an excellent canvas for the artists of FM5 to cover with airbrushed, fire-breathing unicorns and mystical, gray-haired wizards (or just poorly painted letters that read "Free Candy"). This latest car pack is the final monthly car pack for FM5, although Turn 10 is quick to point out that while the monthly updates are over, there will still be new batches of cars made available to gamers. As for the Hot Wheels pack, it's available now on Xbox Live for $9.99. Scroll down for the press release from Turn 10 Studios, as well as a video of the newest additions to Forza Motorsport 5's vehicle roster. Forza Motorsport 5 Hot Wheels Car Pack Now Available Turn 10 Studios is bringing the Hot Wheels® Car Pack to "Forza Motorsport 5," available for download today. The pack features a collection of vehicles built from the ground up for the new generation that car fans can collect and customize while putting their virtual driving skills to the test.