1972 Chevrolet Corvette Lt-1 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.

First 2014 Chevy Corvette Stingray spotted crashed in the wild

This restyled blue 2014 Chevrolet Corvette Stingray is wearing manufacturer plates, and it appears to be the same one seen around the internet in various pictures lately. This crash is likely not part of the Chevrolet testing regimen, however. Digital Corvettes forum member gpetry posted the shot with a note: "got this picture e-mailed from a friend in Arizona last week..." No circumstances are given, other than the incident occurred in the thick of a set of curvy roads, and the coupe ping-ponged off a guardrail and into the rock wall. Hopefully everyone involved in the incident walked away.
It may not be a pretty thing to see, a crashed sports car that's not even available for sale yet, but rest easy. Many pre-production cars are used for development and then unceremoniously crushed and scrapped, anyway. If that's the case here, that makes this wrecked 'Vette less of a tragedy and more of a case of exceptional efficiency.

Plug In 2014: VIA makes the case for 'free' plug-in hybrid work vans, trucks

If you're a fleet manager who's been waiting anxiously for the chance to buy a plug-in hybrid van from Via Motors, your wait is almost over. If you work for the right fleet, anyway. David West, the chief marketing efficer for VIA Motors, took AutoblogGreen for a ride around the San Jose Convention Center in a Via van sporting an Electric Blue paint job as part of the Plug In 2014 Conference this week and gave us an update on how things are coming along. The big news is that the Via PHEV van production is going to start by the end of September. Via can currently build two vans an hour at its production plant in Mexico, or about 16 a day and could easily double that. "That would get us to 20,000 a year with two full lines running," West said. "We have the capacity." "There is no way gas can compete with electric." – David West, Via Motors But they can't sell that many quite yet. By the end of December, around 350 Vans will be made, mostly for a $20-million program from the Department of Energy (DOE) and the South Coast Air Quality Management District that will see the vehicles used by fleets that will report energy data to the Idaho National Lab. Via is also finishing up CARB certification for both the van and the company's plug-in hybrid pick-up truck. About 50 percent of Via's technology in the truck will not need to be tested again, since it's the same as what's in the van, but things like crash tests will need to be done twice. Despite the progress, this is not where Via hoped it would be today. The bankruptcy of battery supplier A123, "took about a year off our timeline," West said. "It's been getting a little slow getting it to market, there have been some challenges, particuarly since we had the country's worst recession right in the middle of this wrap up, but it's inevitable in my mind. There is no way gas can compete with electric." Maybe that's why FedEx has expressed an interest in buying around 5,000 units, West said. FedEx already has some pilot vehicles, just like Verizon does, and PG&E wants to replace all of their gas trucks with electric vehicles, which would be another 3,000 sales, he said. Besides the fuel savings, vehicles like these, with easy on-site power generation, could also work wonders in post-disaster situations, he said, since they could replace the need for generators.