French automakers get $11.8 billion bailout
Here's a quick rundown of what's being doled out: Renault and PSA Peugeot Citroën will each get loans totaling $3.9 billion, while their captive financing units will each receive $1.3 billion in loan guarantees. This should help consumers looking to purchase cars get the credit that they need. Renault Trucks, which is a unit of Swedish truckmaker Volvo AB, has been awarded $640 million and auto suppliers with operations in France will get $785 million in loans.
[Source: Inside Line]
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