As Europe's economy continues to suffer, so do automakers. One of the latest pieces of bad news comes from French carmaker Peugeot which says it will write down its assets by $5.53 billion. The figure represents almost 29-percent of the company's property, valued at $19.4 billion in June. Peugeot says it will also take a second-half charge of $325 million for "onerous contracts." Speaking of onerous, The Detroit News notes the "write-downs are more than double Peugeot's current market value." Yi
Too often, we find ourselves pining for Europe-only versions of cars that will never be sold in the United States, but if a report from Inside Line is to be believed, this is a case in which The Continent's enthusiasts will have to watch from afar gets. Ford of Europe is seeking a new coupe that would be smaller than the Mustang, but be positioned as a halo car for the American automaker's European division.