69 Chevy Chevelle / Malibu Big Block Hurst 4-speed on 2040-cars

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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.

Buick Encore, Chevy Trax reportedly dead after 2022

The Buick Encore will not get an encore, and the Chevrolet Trax is dead in its tracks. Separate unverified reports say the two crossovers, which are essentially identical underneath the sheetmetal, will retire at the end of the 2022 model year without being directly replaced. Citing anonymous sources, enthusiast website GM Authority wrote that production of the Encore and the Trax is scheduled to end in the third quarter of 2022. Both models are manufactured in Bupyeong-gu, South Korea, and General Motors will reportedly use the extra production capacity to build more examples of the Trailblazer, which outsold the Encore and the Trax combined by a significant margin in 2021. General Motors hasn't commented on the report, but we wouldn't be surprised if the end is indeed near for the Encore and the Trax. Buick released the Encore for the 2013 model year, and Chevrolet launched the Trax for 2015, but the model made its debut as the Opel Mokka in 2012. It's at the end of its life cycle, and sales figures reflect this: 20,072 units of the Encore were sold in America in 2021, a drop of 52% compared to 2020, while 42,590 examples of the Trax found a home, a 60% decline. It's further proof that Americans don't like small cars. Viewed in that light, the decision not to replace either crossover makes perfect sense. If the report is accurate, the Encore GX (which is not related to the Encore in any way) will enter the 2023 model year as Buick's entry-level model. The situation is a little more complicated at Chevrolet: The pocket-sized Spark is on its way out in 2022 as well, meaning that the Trailblazer will become the entry point into the range. It's a different story in Europe: Opel, which is now part of the Stellantis group, released the second-generation Mokka in June 2020.

Since 2010, Chevy Volt has outsold Nissan Leaf by just two units

The first two plug-in vehicles from major automakers in the US were the Chevy Volt and the Nissan Leaf. Ever since they went on sale to much fanfare in late 2010, we've been tracking the monthly sales with great interest (and, of course, other green vehicle sales as well). After a big initial lead by the Volt – the Volt outsold the Leaf 23,461 to 9,819 in 2012 – the Leaf has been chugging along and outsold the Volt every month since November 2013. We knew that the cumulative totals would soon tip in favor of the Leaf, but for at least one more month, the Volt is going to be able to say its the most popular plug-in vehicle in the US. Overall, for all officially reported sales of the Leaf and the Volt, things are almost exactly tied. Since the vehicles went on sale in the end of 2010 until the end of February 2015, the Volt has sold 74,592 units and the Leaf has sold ... drumroll please ... 74,590 units. For February, Leaf sales totaled 1,198 units, a 17-percent drop from the 1,425 Leafs sold last February. Brendan Jones, Nissan's director of Electric Vehicle Sales and Infrastructure, said in a statement that, "Tough winter weather in several key markets held EV sales back in February. As we head into spring, we look forward to seeing more dealership traffic so shoppers can experience firsthand the benefits of the all-electric Nissan Leaf." Of course, it was cold in the US last February, too, but we're sure that the nasty weather did indeed play a role last month. Things were even worse for the Chevy Volt, which dropped to just 693 copies sold, down 47 percent from the 1,210 sold last year. That's just barely enough for Chevy to keep talking about its plug-in sales leadership, but we expect the message to change once the March numbers come out next month. Related Video: