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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.

Ford Australia debuts Ranger-based Everest SUV concept

Ford has been in hot water in Australia ever since it announced plans to end local production of the Falcon and Territory SUV. Besides canceling a model that is to Oz what the Mustang is to America, the end of production means more than a few folks will be out of work.
Keen to prove that it has a plan for the market, Ford has unveiled the Aussie-penned Everest Concept, a rough-and-tumble, seven-seat SUV. While not a direct replacement for the aging Territory (that role will eventually be filled by either the Edge or Flex, according to Car Advice) it's an indication from Ford's brass that the Blue Oval is still committed to Australia.
To prove that fact, Alan Mullaly, Mark Fields, Jim Farley and regional execs descended on Sydney for the debut of the new concept. Ford's Australian president and CEO, Bob Graziano, said of the Everest, "Our customers, our employees and Australia can be assured that we're connected to the nation and committed to our customers through terrific products with class-leading technologies."

2015 Ford Focus ST gets sleeker style, improved dynamics

The Brits don't really have a major auto show these days. Not in a conventional sense, anyway, with stationary vehicles under floodlights in a closed exposition space. What they do have, you could argue, is much better: the Goodwood Festival of Speed, where the public can view the latest machinery not only under an open sky, but in motion as well, speeding up Lord March's front lawn. And this year, British automakers are rolling in with some very enticing new metal.
In the past few days alone we've confirmed the McLaren 650S GT3 and MSO, Jaguar F-Type Project 7, Range Rover Sport SVR and Ariel Ace will all be revealed for the first time at Goodwood this weekend. Ford isn't, strictly speaking, a British automaker, but for all its history in the UK, it might as well. So it's chosen Goodwood as the site to unveil its refreshed Focus ST.
The upgraded Blue Oval hot hatch still packs a 2.0-liter turbo four with 252 horsepower and 270 pound-feet of torque driving through a six-speed manual to the front wheels, so we're not expecting much change in measurable performance. But Ford has given the new Focus ST a new front suspension setup and a new electric power-assisted steering rack that combine to promise improved handling.