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Ford recalls 434k vehicles for several unrelated issues

It seems that the hard winter in much of the country has been as rough on some Fords as it has on many people. The Blue Oval is recalling roughly 434,000 vehicles in two separate recalls, and one of them partially caused by the salt used to melt the snow on roads.
The first recall covers 385,750 2001-2004 Escape models in the Midwest, Northeast and Canada because a subframe could rust and eventually fail. This is partially due to the road salt used in those areas, and about 349,000 of the affected vehicles are in the US. To remedy the problem, dealers are installing a reinforcement cross brace on the frame to strengthen them. There has been one crash caused by the failure but no injuries. According to The Detroit News, this is not the first rust-related recall for Ford. It estimates the company has repaired over two million vehicles since 2010 for problems on vehicles related to the iron oxide, including the rear wheel wells of the Freestar minivan.
The second recall covers 48,950 2013-2014 Ford Fusion, Escape, C-MAX and Lincoln MKZ models because welds in their seatbacks don't meet National Highway Traffic Safety Administration standards. The fault affects the front seats, and the sub-standard welds joining the setback to the recliner could increase the chance on injury. There have been no reported injuries or accidents caused by the problem, but there are 42,972 affected vehicles in the US and 4,744 in Canada.

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.

Jay Leno and Lee Iacocca reflect on 50 years of Ford Mustang

Lee Iacocca oversaw the birth of the Ford Mustang back in the 1960s, rocketing the new pony car nameplate into million-unit sales territory in its initial go-round and cementing its place in the history books. Thus, we were immediately drawn to this latest episode of Jay Leno's Garage, in which the funnyman hosts Iacocca for a look at the origins of Ford's most iconic sports car. The legendary auto exec is looking notably more frail than when we last saw him, but if we're being asked around as a video guest when we're 89 years old, we'll consider that evidence of a life well lived.
Serial No. 0001 is on hand for the occasion for Jay's romp through history, as is the historic Mustang 1 showcar from 1962. Of course, the all-new 2015 Ford Mustang GT (in prototype form) makes an appearance at the end of the episode with chief engineer Dave Pericak, as well. Get some, below.