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GM expected to debut two new crossovers at Detroit Auto Show

Next month, General Motors is expected to debut two new crossovers at the North American International Auto Show. That's according to Automotive News and The Wall Street Journal, which reports that the successors to the aging Chevrolet Traverse and GMC Terrain will finally make their debut. The two crossovers have been on sale since 2009 and 2010 respectively and are due for updates as the competition has newer models on the market. Both crossovers play in growing market segments where sales success is crucial for the respective brands. GM, and the automotive industry as a whole, has been shifting its focus towards crossovers in the last few years. The Traverse and the Terrain are some of the oldest SUVs on the market and are in dire need of an update. GMC's Acadia, the former corporate clone to the Traverse (and Buick Acadia), switched to a new platform in 2016. And the Terrain's platform-mate, the Chevrolet Equinox, was revealed a few months ago. Both the new Chevy and GMC models are expected to go on sale late in 2017 as 2018 models. Look for a follow up to the Traverse's sister, the Buick Enclave, to make an appearance soon. Related Video: News Source: The Wall Street Journal via Automotive NewsImage Credit: Reuters Rumormill Detroit Auto Show Chevrolet GMC Crossover SUV gmc terrain 2017 Detroit Auto Show

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 exploring ways to raise half-ton Duramax diesel tow rating

Lots of truck owners cheered when GM announced fuel economy numbers for the 2020 Chevrolet Silverado with the 3.0-liter Duramax diesel inline-six. Even after Ram let loose its EPA mileage ratings for the 2020 Ram 1500 EcoDiesel, the Chevy oil-burner still took the trophy. The victory was years in the making, GM engineers spending an entire four-year development cycle refining the LM2 Duramax to increase mileage. The tradeoff, as well all know by now, is towing; the Duramax in half-ton duty pulls a maximum 9,300 pounds in the Silverado. Rivals across town can do more, the Ford F-150 PowerStroke rated at 11,500, the Ram 1500 EcoDiesel game to pull 12,560. GM engineer John Barta told Muscle Cars & Trucks that more hauling chops could be on the way, explaining, "We’re actually looking at upgrading some of the materials around (the engine bay) to see if we can maybe raise our tow rating." Engine bay materials are at issue due to thermal complexities underhood. John Barta, GM's assistant chief engineer of diesel engine controls, said the Duramax's inline-six configuration allowed engineers to get emissions hardware like the combined selective catalytic reduction, diesel oxidation catalysts, and diesel particulate filter unit closer to the engine, where it heats up quicker, getting emissions down quicker. But that filter puts another heat source in those confines, enforcing a cap on the tow rating to keep the engine and other systems from overheating. "If you look under the hood," he said, "youÂ’ll see a significant amount of silver ‘moon tapeÂ’ around to make sure things arenÂ’t getting overheatedÂ… if we were to go up in higher towing, which we can, we start impacting the possibility of deteriorating some of the components.” There isn't much space for more grille, so swapping for a better grade of "moon tape" or a different kind of material could reduce engine bay heat, extracting a higher tow rating in the process.  It's important to note a point Barta's been making for months about the Duramax figures, though. "Even though itÂ’s nice to brag about big numbers, in reality, light duty customers are not towing that large with their trucks," and, "We do know that (95 percent) of our light duty customers donÂ’t tow over 9,000 pounds." On our First Drive of the 2020 Silverado diesel we called out the tow rating, but emphasized that the Chevy and GMC have more important challenges to overcome.