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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.

2017 Ford GT looks resplendent in Liquid Silver and will be built in Ontario

You didn't think we'd let an opportunity to capture another high-res image gallery of our favorite vehicle from the North American International Auto Show pass by, now that it's taking center stage in Chicago, did you? Especially since it's now painted in a brand-new hue? Of course not. And so we're happy to present to you the 2017 Ford GT in Liquid Silver, wearing titanium-tinted racing stripes. It may not be as classically American as the show-stopping blue that debuted with the concept in Detroit, but it's beautiful nonetheless. And, in even better news, we hear that the GT has been confirmed for production at Ford's factory in Markham, Ontario, according to our Canadian friends at CTV News. To recap what we know about the Ford GT – besides the fact that we're in mad, mad love with it, of course – it's beautiful, will be powered by a mid-mounted 3.5-liter twin-turbo V6 with "more than 600 horsepower," it's beautiful, it sends all that power to the rear wheels through a seven-speed dual-clutch gearbox, it's beautiful, blends a carbon fiber monocoque and body panels with aluminum subframes, and it's beautiful. We think it's likely headed for endurance-racing competition, as was the original GT40 that is its spiritual grandfather, and we're sure it will look good doing it. Heck, maybe it'll even win at Le Mans. In any case, check it out in high-res glory below, in multiple color schemes, in both images and video. Related Video: Related Gallery Ford GT Concept: Detroit 2015 View 45 Photos Related Gallery Ford GT View 11 Photos Related Gallery 2017 Ford GT: Chicago 2015 View 30 Photos Image Credit: Live photos copyright 2015 Drew Phillips / AOL Design/Style Plants/Manufacturing Chicago Auto Show Ford Coupe Performance Supercars Videos autoblog black

Ford Australia debuts Ranger-based Everest SUV concept

Ford has been in hot water in Australia ever since it announced plans to end local production of the Falcon and Territory SUV. Besides canceling a model that is to Oz what the Mustang is to America, the end of production means more than a few folks will be out of work.
Keen to prove that it has a plan for the market, Ford has unveiled the Aussie-penned Everest Concept, a rough-and-tumble, seven-seat SUV. While not a direct replacement for the aging Territory (that role will eventually be filled by either the Edge or Flex, according to Car Advice) it's an indication from Ford's brass that the Blue Oval is still committed to Australia.
To prove that fact, Alan Mullaly, Mark Fields, Jim Farley and regional execs descended on Sydney for the debut of the new concept. Ford's Australian president and CEO, Bob Graziano, said of the Everest, "Our customers, our employees and Australia can be assured that we're connected to the nation and committed to our customers through terrific products with class-leading technologies."