1962 Chevrolet Nova on 2040-cars

Auto blog

GM recalls Chevy Express, GMC Savana over rollaway concern

The National Highway Traffic Safety Administration has issued a recall notice for a small number of General Motors fullsize vans due to possible rollaway concerns. On certain 2013 Chevrolet Express and 2013 GMC Savana models, it is possible to remove the key from the ignition without the shifter being in park.
Only 980 total units are being affected by this recall, and GM is fixing the issue by replacing the ignition cylinder and associated keys. Affected Chevy vans were built during most of November and December while its GMC counterpart was only built for a week in November. The recall goes into effect on January 23, and to find out if your vehicle applies to the recall, the GM and NHTSA contact numbers can be found on the official recall notice, which is posted below.

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.

Sinkhole Opens Up In National Corvette Museum, Swallows Eight Cars

More cars are being moved inside the National Corvette Museum in Bowling Green, Ky. to avoid falling down the same sinkhole that swallowed eight classic sports cars early this morning, Autoblog reported. Museum officials said the hole was discovered when motion sensors activated around 5:45 a.m. The rescue mission can be viewed on the museum's live feed cameras, which weren't working after the sinkhole emerged. A 1993 ZR-1 Spyder and a 2009 ZR1 "Blue Devil," both on loan from General Motors, were among the cars that fell into the sinkhole. The museum owned the other affected Corvettes, which included a 1963 Corvette, a 1984 PPG Pace Car and the 1 millionth Corvette ever produced. The state of the cars at the bottom of the hole isn't known, but trial lawyer and sinkhole expert Ted Corless said the cars may be a total loss for the museum and GM. "Most states, including Kentucky, exclude damage caused by sinkhole activity," he said. "There will be, in all likelihood, a claim made, but a lot of policies would specifically exclude these kinds of damages." Corless has 15 years experience dealing with sinkholes. He said that typically neither the building, nor the cars themselves are protected under their insurance policies. "I would have to say, more likely then not, they're going to have an uninsured loss measured in the hundreds of thousands of dollars." The museum is closed Wednesday while a structural engineer assesses the damage. Related Gallery 2014 Chevrolet Corvette Stingray Test Drive View 9 Photos Related Gallery 2014 Chevrolet Corvette Stingray Test Drive View 9 Photos Weird Car News Chevrolet GM corvette