1999 Volkswagen Jetta Gls Sedan 4-door 2.8l on 2040-cars

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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.

TRANSLOGIC 150: Volkswagen XL1

How do you build the world's most fuel-efficient production car? Start with the world's most aerodynamic design. The Volkswagen XL1 is capable of 261 miles per gallon thanks to its sleek shape and ultra efficient plug-in diesel hybrid powertrain. The downside is that only 250 will be made and none will be sold stateside. That didn't stop us from taking our turn behind the wheel of this truly revolutionary ride.

Porsche 911 Carrera 4, Alfa Romeo Giulia Quadrifoglio and a chat with Jean Jennings | Autoblog Podcast #626

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer, Associate Editor Byron Hurd and special guest Jean Jennings. The gang kicks off with a discussion about the cars they've been driving — 2020 Porsche 911 Carrera 4, 2020 Alfa Romeo Giulia Quadrifoglio and the 2020 VW Tiguan. They shift gears to talk about the latest news gleaned from a press conference concerning the 2021 Supra, then, they reach into the mailbag to help a listener buy a performance car. Lastly, Greg has a chat with special guest Jean Jennings. Autoblog Podcast #626 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 Porsche 911 Carrera 4 2020 Alfa Romeo Giulia Quadrifoglio 2020 Volkswagen Tiguan R-Line 2021 Toyota Supra news Spend My Money Jean Jennings interview Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: