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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.

1964 Ford GT40 prototype to be auctioned in April

The Ford GT40 owns a firm spot on the list of the greatest American racecars ever made, being the first car from the United States to take an overall win in the 24 Hours of Le Mans. And now Mecum will auction what it claims is second-oldest GT40 still in existence at its Houston sale on April 12.
The story of the GT40 is fascinating. Henry Ford II attempted to buy Ferrari in the early '60s, but Enzo refused. Ford decided if he couldn't have them, then he would beat the Prancing Horse on the track. Ford went to Carroll Shelby and asked him to spearhead the program. The early cars combined a steel monocoque chassis with Ford's 4.2-liter V8 engine pumping out around 350 horsepower. The first prototype made its public debuted on April 1, 1964, at the New York Auto Show.
Shelby kept building prototypes, including GT/104, which is for sale here. This version featured a lighter steel chassis and was raced at Le Mans in 1964. However, a fire forced it to retire. It was then repainted and had a 4.7-liter (289-cubic-inch) engine fitted. The chassis had its best finish at the 1965 Daytona Continental 2,000 Kilometers where it finished third with Bob Bondurant and Ritchie Ginther behind the wheel. Later that season, it was shipped back to Ford where it was restored and displayed at auto shows until 1971 when the automaker sold it. Since then, it has had many private owners.

Forza Motorsport 6's new drivable Hot Wheels cars are the best

Each month, Turn 10 Studios releases a new car pack for the latest installment of its Forza Motorsport video game. Sometimes that means less-than-exciting stuff coming to our Xbox Ones – BMW X6M, bleh – but this time our inner seven-year-old is beyond ecstatic. Two of the seven cars are based on actual Hot Wheels models. And. They're. Awesome. First we have the 2011 Hot Wheels Bone Shaker. Yes, there are flames on the side. And yes, there's a giant skull where the grille should be. This one came from the imagination of "Mr. Hot Wheels" Larry Wood, whose design was so popular it inspired an actual real-world creation. Like all good things in this world, it's powered by a small-block Chevy V8. Oh, and it has no roof. This will be a popular one among gamers. The other digitized Hot Wheels creation is a 2005 Ford Mustang. A modest vehicle, sure, but the toy designers have festooned this pony car with a wild paint scheme and the body mods to emphasize it. Originally developed to celebrate the 'Stang's 50th birthday, this Hot Wheels car trades Americana for wild Japanese style. There's just one functioning life-size version of this car in existence as well, but if you look hard, you might be able to find one of the 1:64 scale models that inspired it. Other highlights from this month's car pack include the latest Ford Focus RS – finally time to replace that NASCAR-V8-powered, all-wheel-drive 2009 Focus RS – the 2015 McLaren P1 GTR, the 2016 Chevrolet Camaro SS, the aforementioned X6M, and Alain Prost's 1990 Ferrari 641 F1 car. The Hot Wheels Car Pack is available for download today. Related Video: Featured Gallery Forza Motorsport 6: Hot Wheels Car Pack News Source: Turn 10 Studios via YouTube Toys/Games BMW Chevrolet Ferrari Ford McLaren Racing Vehicles Performance video games Hot Wheels forza motorsport chevy camaro ss forza motorsport 6