GM is edging ever closer to selling its European Operations to PSA Group unnamed sources have told news organizations. Intense talks are scheduled throughout the weekend according to Bloomberg and a meeting may be held with top labor leaders, all with an eye toward making the deal official on Monday. But don’t place any money on that bet quite yet. An agreement would make Peugeot/Citroen Europe’s second largest auto maker.
The average amount financed for new and used vehicles has hit record highs, making longer-term loans more popular among consumers, according to a new report from experian. The average loan amount for a new vehicle reached a record high of $30,621 in the fourth quarter of 2016. The report also showed the number of consumers opting for auto loans with terms of 73 to 84 months on their new vehicles increased from 29 percent in Q4 2015 to 32.1 percent in Q4 2016. Consumers are extending loan terms, getting a short-term lease or opting for a used vehicle to get what they want while staying within their monthly budget, the report said. The average monthly payment for a new vehicle is now $506.
Porsche will expand its Panamera lineup introducing the Sport Turismo model at the Geneva show next Tuesday. There will be four models, with enthusiasts most interested in the Sport model with up to 550 horsepower on tap. 0-60 in 3.4 seconds. It will feature increased luggage space and 4+1 seating. The two outer seats take the form of individual seats producing a 2+1 configuration in the rear. As an option, the Panamera Sport Turismo is also available in a four-seat configuration with two electrically adjustable individual seats in the back. Look for the new lineup to show up here near the end of the year. Prices will start at $96,200.
That much talked about Jeep Wrangler based pickup will debut in late 2019, according to the Detroit News. Details are a little thin this early on. The company is said to be hunting for a name for the new truck, perhaps something used in Jeep’s storied past.
How windy was it in Dearborn Michigan? Enough to tear a large Ford emblem sign off the south side of the company’s world headquarters building. The emblem on the north side is still in place.
Ford is recalling approximately 32,000 2016-17 Ford Edge, 2016-17 Lincoln MKX and 2017 Lincoln Continental vehicles to replace the driver frontal airbag module. Ford was notified by Takata that certain driver frontal airbag cushions installed in these vehicles may not inflate as intended. This concern is not related to Takata’s ammonium nitrate airbag inflators that are subject to propellant degradation and potential rupture in a crash.
In the affected vehicles, in the event of driver frontal airbag deployment, the airbag may not completely fill, or the airbag cushion may detach from the airbag module due to misalignment of components within the airbag module.