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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.

Next-gen Chevy Silverado and GMC Sierra may use carbon fiber

It's been generally accepted that the next generation of full-size GM trucks will use some sort of strong, lightweight material for the beds while retaining steel for the cab. While aluminum seems like the most obvious choice, according to Automotive News, the Chevy Silverado and GMC Sierra will incorporate both aluminum and carbon fiber in their beds. The publication cites sources from within GM, though it seems the introduction of this comparatively exotic material mix is still a few years off. While carbon fiber is both stronger and lighter than steel and aluminum, it takes significantly more time and money to produce, essentially relegating the material to small-volume cars. The main benefit for trucks is the resulting reduction in weight to improve fuel economy without sacrificing the tough, rugged capabilities truck buyers expect. The Ford F-150 made the switch to aluminum for the 2015 model year and it's proved highly successful. It seemed like it was only a matter of time before the competition followed suit. Automotive News says that the next-gen trucks will launch with aluminum beds and that it will take a couple of years before we'll see any carbon fiber incorporated into the design. Even then, only look for the composite material on higher-trim models, with a trickle down to lower-spec trucks possible further in the future. In 2011, GM announced it was working with Japan-based Teijin Limited on a carbon fiber reinforced thermoplastic. There's a good chance that material's introduction will be on trucks. Related Video: News Source: Automotive News Plants/Manufacturing Rumormill Chevrolet GM GMC Truck

2015 Chevy Tahoe gets Police Patrol Vehicle treatment

That was fast. Mere days after showing a Police Concept based on the 2015 Tahoe at the SEMA Show, Chevrolet has announced that it will build a PPV model based on the SUV to do battle with the Ford Police Interceptor Utility (Explorer) and Dodge Durango Special Service.
You'll recall that the Tahoe has been police staple for several years, predating both the Explorer and Durango police variants, so the fact that the new model would spawn a police variant is hardly surprising. Like the civilian model, the 2015 PPV benefits from a more efficient 5.3-liter, direct-injection V8 that pumps out 355 horsepower and 383 pound-feet of torque. It also features more high-strength steel, offering better crash protection, on top of optional safety items like lane departure warning, forward collision alert and a Safety Alert Seat.
The press release is rather light on police-specific items, aside from the auxiliary battery, which keeps the myriad of electronics in a modern police car running even when the engine isn't. Lightbars, 17-inch steel wheels on Goodyear Eagle RS-A tires and a push bar round out the mods for the Tahoe PPV. The cabin features a revised center console and room for laptop and other equipment mounts.