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Opel's version of the Chevy Bolt will confuse people at Paris Motor Show

Two things are now official. First, Opel will reveal the Ampera-e, or the European version of the Chevrolet Bolt, at the Paris Motor Show in October. Second, General Motors has outdone itself in brand confusion, topping the Bolt/Volt ridiculousness. Opel isn't giving a single-charge range for the Ampera-e but the company is promising a "significantly longer range" than other electric vehicles. The Bolt is estimated to have a 200-mile range on the EPA scale, so whatever the Opel achieves on the European cycle will be done with the same batteries and motor as the Chevy. Opel is also looking to appeal to the auto enthusiasts with other factoids, which are basically just Bolt stats translated into metric. For instance, the Ampera-e will be able to go 0 to 50 kilometers per hour (which is 31 miles per hour to us Americans, but we're talking Europe here) in just 3.2 seconds. And for those looking to stay connected, as many as seven mobile devices can attached to the car's wireless hot spot. GM said in February that the European of the Bolt would be available across the pond next year, so the most recent bit of news isn't shocking. Still, General Motors continues to create confusion between all-electric Bolt and the extended-range plug-in Volt. It's already been reported that the Korean symbol and pronunciation of what is "B" in English is identical to the English "V," meaning that there is no difference between "Bolt" and "Volt" in that country (though there are no plans to sell the Bolt in South Korea as of yet). Now, in Europe, they're taking the name they used to use for the European of the Volt — Ampera — and merely adding an "-e" at the end of it. For those looking to be less confused, take a look at Opel's press release here. Related Video: Featured Gallery 2017 Opel Ampera-e: Paris 2016 View 11 Photos News Source: Opel via Hybrid CarsImage Credit: Live photos copyright 2016 Drew Phillips / Autoblog Green Paris Motor Show Chevrolet GM Opel Electric Chevy Bolt volt ampera opel ampera-e ampera-e

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

GM to restore legendary Corvette damaged in sinkhole accident

Car lover's hearts' sank when they saw images of bent and destroyed classic Corvettes at the bottom of a sinkhole last February after the floor of the National Corvette Museum gave way. General Motors announced Wednesday it would restore the one millionth Corvette ever produced to its former glory. The 1992 convertible was heavily damaged when a 40-foot deep sinkhole opened beneath a bevy of rare cars at the National Corvette Museum in Bowling Green, Kentucky. Since then, GM has been slowly restoring the classic cars, though five of the eight that caught in the sinkhole were determined to be too damaged to repair. This November, the 2009 Corvette ZR1 Blue Devil was the first car to be returned in mint condition to the Museum, according to Autoblog. It suffered significant damage but was still drivable after being pulled out of the debris. The one millionth Corvette is still in bad shape. The automaker is estimating six months worth of work to restore the car, which sustained paint scratches, rear-suspension damage and a mangled front fender. Related Gallery Consumer Reports Most Loved Cars 2014 Chevrolet GM Automotive History corvette famous cars sinkhole corvette museum