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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.

Finalists for 2014 Green Car of the Year announced

The list of finalists for the 2014 Green Car of the Year has been announced, and in a genuinely bizarre twist, there's only one hybrid and no electric vehicles among the five contestants, despite the arrival of cars like the BMW i3 and Tesla Model S. Taking the place of the EVs are a pair of diesels, repping a technology that last won a Green Car of the Year award in 2009, when the Audi A3 TDI took the title. No diesel was in the running for last year's award.
Naturally, both of the diesel finalists are fielded by the Germans - with BMW's 328d and Audi's A6 TDI getting the nod. In the case of the 3 Series, BMW installed a 2.0-liter, turbodiesel, capable of delivering 180 horsepower and 280 pound-feet of torque, while returning 45 miles per gallon on the highway. Audi and its larger, 3.0-liter, V6 turbodiesel produce quite a bit more grunt, with 240 hp and 428 lb-ft of grunt, but net a very impressive 38 mpg on the highway in the A6.
Finalists for this year's awards include two diesels, three gas-powered cars and a plug-in hybrid.

Are you the facelifted Toyota Yaris?

As basic transportation goes, there's not a lot to complain about with the Toyota Yaris. The five-door hatch (not to mention its JDM cousin, the Vitz) are due for upgrades, though, having toddled along in its current form since the 2011 model year. Now, we have what looks to be leaked images of the new Yaris, straight from a Japanese brochure.
The next-gen Yaris was previewed in Frankfurt by the Yaris Hybrid-R Concept. Surprisingly, both the standard version and the RS (shown above) share a strong resemblance with the Frankfurt concept. That gaping lower intake remains, while a pointy, sharp front end shares a resemblance with the new Aygo city car (though the Yaris won't have a giant X on its face like its smaller cousin). The lower intake is flanked by a pair of what we're guessing are non-functional grilles, which house the fog lights. There are only a few small images of the rear of the car, which looks more like an evolution of the current five-door hatch.
The interior looks rather racy, with a small, thick-rimmed, leather-wrapped steering wheel and black cloth seats with red contrast stitching. There's a bright red button to the right of the steering wheel on this right-hand-drive JDM model, which could indicate the arrival of pushbutton start. Under hood of this Mazda-built Toyota should be a Mazda Skyactiv engine. That gives us hope that this latest Toyota compact will be imbued with some sense of driving fun.