1978 Ford Thunderbird Diamond Jubilee T-top 2-door 5.8l on 2040-cars

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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.

Submit your questions for Autoblog Podcast #321 LIVE!

We're set to record Autoblog Podcast #321 tonight, and you can drop us your questions and comments regarding the rest of the week's news via our Q&A module below. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
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2015 Ford S-Max adds all-wheel drive, adaptive steering

The Blue Oval's 'One Ford' mantra has seen rapid commonization of the automaker's products across markets, but North America still has to look from afar at most of the company's Max-branded people movers, including this new S-Max. That's a bit of a shame - we like the space efficiency and above-average driving dynamics of the C-Max models we do get, but seeing this updated seven-seat small minivan makes us want the One Ford initiative to extend even further.
The new model's changes include an updated powertrain range including a 1.5-liter EcoBoost four with 158 horsepower, and a larger, 237-horsepower, 2.0-liter model, along with a pair of revised lower-emissions 2.0-liter diesels. The big news, however, is the advent of available all-wheel drive, something that hasn't been offered since the S-Max first went on sale back in 2006.
On the technology front, the S-Max is the first European model to receive Ford Adaptive Steering, a variable-ratio technology we recently sampled in a prototype Fusion that is expected to go into production on the next-generation Edge. The S-Max also receives a new aluminum-intensive integral link rear suspension, packaged to continue to fit up to 32 different seating combinations. Safety equipment is always a prime concern in kinschleppers like the S-Max, and to that end, this new model receives pre-collision assist technology and LED headlamps.