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Former Ford president, Jaguar chairman Nick Scheele dead at 70

We have the privilege here at Autoblog of reporting a lot of good news, but it is our duty as well to report the bad news and sad news as well. And this is one of those occasions as the automotive industry mourns the passing of one of its leaders.
Nick Scheele was born in the UK in 1944 and joined the Ford Motor Company upon graduating from the University of Durham in 1966, staying within the Blue Oval's portfolio for the entirety of his career. After moving to North America in 1978, he rose through the ranks to become president of Ford's Mexican operations in 1988. After acquiring Jaguar, Ford appointed Scheele as its chairman.
Scheele subsequently acted as chairman of all of Ford's European operations, making difficult decisions to take the division out of the red and into the black. He briefly headed up Ford's North American division before he was appointed in 2001 as president and chief operating officer of the global automaker, working under CEO Bill Ford following the departure of Jacques Nasser departure and retaining the role until his retirement in 2005.

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.

New York Mets outfielder turns spring training into his personal car show

New York Mets outfielder Yoenis Cespedes is known for his wide range of talents. He can hit for power, average, has good speed, and is solid in the field. His car collection is equally versatile and diverse, and it's been on display this week at spring training. Every day has brought a different car, and it has his teammates and the media atwitter. Cespedes rolled up Wednesday to the Mets facility in Port St. Lucie in a Lamborghini Aventador. It's black with blue trim. Anthony DiComo with MLB.com tweeted this: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. ESPN's Darren Rovell tweeted the Lambo has a custom exhaust that cost $80,000 and shoots out flames. Of course, that's already old news. His Alfa Romeo showed up today, too. Apparently Mets infielder Wilmer Flores has been driving it. That's an ultra-rare 8C Competizione, brought to you by Robert Brender of SNY.TV. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Italian delights are stunning, but his Tuesday arrival was arguably the craziest: a Polaris Slingshot. DiComo captured this. It's customized with gaudy wire wheels, red accents, and Cespedes' No. 52 on the hood. Subtle. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Only in this fleet would Monday's ride appear pedestrian. It was 'only' an F-250. It was raised on huge wheels, had a custom grille, and towered over that Maserati behind it. Jon Santucci of Scripps newspapers observed it. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. At this rate, we should probably skip Geneva and get credentialed for Mets spring training. Cespedes signed a three-year $75-million contract with the Mets in the off-season. He's also played for the Oakland Athletics, Boston Red Sox, and Detroit Tigers. Related Video: Image Credit: Getty Images Celebrities Design/Style Ford Lamborghini Performance baseball