It's no big deal, really, just an eensy weensy potential short circuit in the ABS/Stability control system. A seal on the hardware that the ABS and ESP systems share can allow water infiltration, which leads to electrical maladies. A mass self-immolation of 307s would be rather unseemly, so Peugeot has recalled roughly 240,000 of the vehicles built between 2003 and 2006. Letters have gone out to owners beckoning about 60 percent of the 2 million total 307's sold to come back before there's legions of weeping former 307CC drivers stumbling back home.

[Source: Automotive News - sub req]