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Watch divers pull 1973 Ford Mustang Mach 1, Mazda RX-7 from a river

It’s like the ultimate barn find, only swap out the relatively ideal dry confines of a barn for a watery grave. Adventures with Purpose, a YouTube channel devoted to the exploits of a group of divers in Oregon that specializes in pulling submerged cars from the water, recently found six vehicles in the Tualatin River, near Portland. The most notable finds? A 1973 Ford Mustang Mach 1 fastback and a Mazda RX-7 sports car, plus a Chevrolet LUV pickup, which is not shown being pulled from the water. As you might expect, neither are exactly in top condition, with the badly rusted Mustang basically disintegrating into scrap pieces as itÂ’s pulled onto a flatbed truck parked on a boat ramp. The RX-7, meanwhile, is caked with mud, its windshield and roof crumpled, but itÂ’s basically intact. A hat tip goes to CarBuzz for spotting the videos. The divers use inflatable salvage bags to help raise the vehicles. They removed the MustangÂ’s rusted and encrusted V8 first — the '73 model came with either 302 or 351 engines — and had to pause to remove some of the thick mud that had built up inside the car. Other things they found from both pulls include an old sledgehammer, a stop sign and a rusted Washington state license plate. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The crew say they received a call from someone who told them theyÂ’d find plenty of vehicles in the river. The whole Mach 1 salvage operation took two days. “A lot of you are going to be a bit upset at how destroyed the Mustang Mach 1 became after we tried removing it from the river,” the team wrote in its description. “In our defense, there was an extra 8,000 pounds of mud inside the car, along with the Mustang being underwater in the river for over 40 years.” The Adventures with Purpose team says it has recovered 326 cars, six guns, two bodies and a tractor, among things. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Ford Mazda Coupe Performance Classics

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.

2021 Ford Mustang Mach 1 revealed, plus driving the BMW M8 Convertible | Autoblog Podcast #632

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Producer Christopher McGraw and News Editor Joel Stocksdale. Before they get to this week's big news, they talk about the cars they've been driving, including the Toyota Land Cruiser, Range Rover Velar SVAutobiography Dynamic Edition, BMW M8 Convertible and BMW 840i coupe. Then they talk about Ford's big reveal of the 2021 Mustang Mach 1. Finally, in lieu of the regular Spend My Money segment, they talk about how Joel recently spent his own money on the newest edition to his personal fleet, a 2013 Volkswagen Beetle. Autoblog Podcast #632 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2020 Toyota Land Cruiser 2020 Range Rover Velar SVAutobiography 2020 BMW M8 Convertible 2020 BMW 840i Fords reveals 2021 Mustang Mach 1 Spend Joel's Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: