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Ford finally issues recall for 230K minivans over rust problems

The rust issue in the rear wheel wells of 2004-2007 Ford Freestar and Mercury Monterey minivans has finally led to a recall. The National Highway Traffic Safety Administration began an investigation into the matter in 2011, said investigation being upgraded to an engineering analysis a year later while NHTSA tried to figure out how many model years should be included in the assessment.
Ford has decided to recall all of the 230,000 minivans potentially affected, namely those sold in salt-belt states and countries like Canada. The excess rust in the rear wheel wells was also able to prevent the third-row seats from locking to the floor of the minivan. To repair the problem, owners can take their minivans to dealers, and the dealers will place new panels in the wheel wells, replace the third-row seat mounting brackets and relocate the latches to an area away from any corrosion.
Ford says it will begin notifying owners during the last week of March.

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.

2015 Gordon McCall's Motorworks Revival

Considered the big kick off of the major festivities surrounding Monterey Car Week, this year's Gordon McCall's Motorworks Revival certainly didn't disappoint. For those unable to make it to the California coast, our own Drew Phillips was on hand to snap some of the beautiful vehicles on display for this gorgeous gallery. Held annually at the Monterey Jet Center, the event is always a feast for the eyes by collecting planes, a gang of exotic supercars, and some the top cars crossing the auction block over the coming days, like a Plymouth Hemi 'Cuda convertible. The Ford GT both new and old was a major attendee at this year's party. Among them, the Petersen Museum brought along an original racecar and a GT40 MKIII to promote an upcoming exhibit. The classics were complimented by the latest version that has continued to keep tongues wagging. The GT wasn't the only classic with a modern update there. Singer used the posh event for the North American debut of its stunning restoration of the Porsche 911 Targa. Shelby American was also at the revival for the public unveiling of the 50th Anniversary Daytona Coupe. On the more modern front, Honda was in attendance with the future NSX and one of the McLaren F1 cars that the company's engine powers. For further proof of the ritzy folks that attend this soiree, Pagani and Koenigsegg both had stands to show off their extremely quick wares.