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GM recalls 3.8 million vehicles in North America due to braking issue

WASHINGTON — General Motors Co said Wednesday it was recalling 3.46 million U.S. pickup trucks and SUVs to address a vacuum pump issue that could make braking more difficult and that has been linked to 113 accidents and 13 injuries. The recall covers 2014-2018 model year vehicles, including some Cadillac Escalade, Chevrolet Silverado, Chevrolet Tahoe, GMC Sierra, Chevrolet Suburban and GMC Yukon vehicles. In late June, GM recalled 310,000 vehicles in Canada for the same issue. GM did not immediately explain why the Canadian recall occurred more than two months before it called back the vehicles in the United States. The recall was triggered because the amount of vacuum created by the vacuum pump may decrease over time, GM told the National Highway Traffic Safety Administration (NHTSA) in documents posted on Wednesday. The NHTSA opened a preliminary investigation into the issue last November, and said it had reports of nine related crashes and two injuries. It provided GM in July with additional field reports that prompted the automaker to open an investigation. GM said it could affect braking in "rare circumstances." The NHTSA said in a statement the "vehicles may experience brake boost failure, which would require increased brake pedal effort, leading to a hard brake pedal feel, and potentially increased stopping distance." GM said dealers will reprogram the electronic brake control module to improve how the system utilizes the hydraulic brake boost assist function when vacuum assist is depleted. GM said the vacuum assist pump, which is lubricated with engine oil that flows into the pump through a filter screen, can in some cases lose effectiveness over time, as debris such as oil sludge can accumulate on the filter screen. GM told NHTSA that prior model years used a different brake assist system design, and vehicles manufactured after 2018 were not equipped with the affected pump design. Separately, GM said on Wednesday it is recalling 270,000 additional U.S. vehicles in three smaller recalls, including 177,000 2018 Chevrolet Malibu cars with 1.5L turbo engines because an error in the engine control module software may result in the fuel injectors being disabled.

1 in 7 Americans say they might buy an EV next, as sales of electrics surge

About one in seven driving Americans may likely purchase an electric vehicle as their next car, according to an AAA poll, meaning that as many as 30 million Americans may pony up for an EV within the next three to five years. While some of the motivation is environmental, survey recipients say that lower maintenance expenses and solo access to high-occupancy-vehicle lanes are also among the factors behind potentially going electric. Take a look at the AAA press release on the study here. The poll indicates that about as many people are planning to buy an EV for their next car as are looking to buy a pickup, which is impressive given that the best-selling US vehicle is the Ford F-150. And things should only improve, as about 20 percent of millennials polled said that their next car would probably be an EV. The results are all the more encouraging, at least among green-car advocates, because gas prices have fallen about 40 percent within the past five years, meaning that there's less of an incentive to go electric from a purely economic perspective. Through the first quarter of this year, US plug-in vehicle sales were up about 63 percent from a year earlier to about 39,000 vehicles. Meanwhile, when it came to AAA's annual green-vehicle awards for this year, Tesla's Model S and Model X took the large car and SUV categories, respectively, while the Chevrolet Bolt and Volkswagen e-Golf were listed atop the subcompact and compact lists. The Lexus GS 450h hybrid and the Ford F-150 took home AAA's best green vehicle in the midsize and pickup truck categories. Related Video:

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.