1951 Chevy Panel Truck 3100 Rat Rod 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.

Recharge Wrap-up: Tesla sells Model S 85 and 70D in Malaysia, Chevy Spark EV built using clean energy

Tesla will send Model S 70D and Model S 85 EVs to Malaysia for leasing to government-linked companies. Only those companies will have access to the models as a two-year lease, which will be imported and leased by Malaysian Green Technology Corporation. The plan is part of an initiative by the Ministry of Energy, Green Technology and Water to allow government officials and other influential people to get to know the electric vehicles and the benefits that come along with them. Most of the 120 vehicles available will be the 70D model, and the lessee companies will have the option to purchase the cars at the end of the two years. Read more from Paul Tan's Automotive News. Wanxiang is hosting students from Delaware in China as part of a program to learn Mandarin and visit schools and science and technology sites. Wanxiang, the auto parts company that acquired Fisker (which had manufacturing based in Delaware) and battery maker A123 Systems, will give the students tours of its solar technology facilities, among other places, and see what daily life is like for families in the region. The program helps students interested in science and technology to foster marketable skills — like learning a foreign language — that will help them get jobs in industries around the world. Read more at Delaware Online. The Chevrolet Spark EV's electric motor (pictured) and drive unit are manufactured using clean energy. The e-motors building of the General Motors Baltimore Operations complex has a new rooftop solar array and uses LED and CFL lighting, helping the building recently earn LEED Silver certification. The landfill-free facility also takes advantage of the 1.23-megawatt solar array on the grounds, helping it source six percent its energy from renewable sources. The plant has reduced its energy intensity by 15.5 percent in three years, and continues to work toward reducing consumption and sourcing clean energy. "We believe reducing our environmental footprint is good for the climate and good for our business," says GM Executive Director of Global Public Policy Greg Martin. Read more in the press release below. Spark EV Motor Plant Fueled by Green, Clean Energy ENERGY STAR®, USGBC and Maryland state agency recognize facility's efforts WHITE MARSH, Md. – Chevrolet recently began selling the Spark EV to Maryland commuters able to take advantage of the state's robust charging infrastructure.

Sunday Drive: Trucks and SUVs of all shapes and sizes

The American automotive marketplace is dominated by trucks and SUVs, and so was the last week of coverage on Autoblog. By far, the most popular story of the week was our First Drive of the 2018 Lincoln Navigator. It may look like an old-school lumberer, but in reality Lincoln's flagship is a thoroughly modern, turbocharged-V6-powered, three-row, luxury people mover. The Jeep Wrangler is the world's most recognizable vehicle. So it's no surprise that the next version looks a whole heck of a lot like the last one, and the one before. It's all in the details, which is why we were so excited when Jeep decided to unleash a trio of images showing both two- and four-door Wranglers for us to dissect ahead of the SUV's official debut at the L.A. Auto Show later this year. Past that, spy photos of the next Chevy Silverado and Ram 1500 were predictably popular. See both of those below, and the cap it all off, check out the entire week's worth of SEMA coverage – including the bonkers Hennessey VelociRaptor 6x6 – in our mega image gallery at the bottom of this post. Enjoy! As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2018 Lincoln Navigator First Drive | From black sheep to flagship 2018 Jeep Wrangler revealed: First photos released before L.A. Auto Show debut 2019 Chevy Silverado looks slim and clean beneath the camo 2019 Ram 1500 gets vertical touchscreen infotainment system 2017 SEMA Show Mega Photo Gallery Chevrolet Jeep Lincoln RAM Truck SUV recap sunday drive