2013 Toyota Camry 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.

Details about next-gen Toyota Prius emerge

The Toyota Prius is undeniably the king of the hybrid market in the United States, with a 39.4 percent market share in 2013. With the next-generation Prius likely to go on sale in 2015, Toyota is trying to build an even more efficient hybrid to keep its control of the market.
Keeping cost down will be one of the major concerns of the new Prius. The next generation will ride on the new, modular Toyota New Global Architecture platform. The lighter underpinnings will improve efficiency and will reduce production costs by allowing for more shared components among vehicles. Toyota will not reveal how many vehicles will use the new platform. But even with the cheaper platform, price will remain a concern. Toyota is still deciding whether all versions of the next Prius will use lithium-ion batteries or whether some models will stick with the heavier nickel-metal hydride batteries to keep cost down.
Of course, the reason most people buy the Prius is because of its great fuel efficiency. Toyota will aim for at least an 8 percent improvement in fuel economy in the next Prius, which would increase it to 58 miles per gallon city and 52 mpg highway.

Cosworth teases upgrades for Subaru BRZ

Subaru may or may not produce an STI version of the BRZ. Things seem to go back and forth on the subject. But Subaru Tecnica International isn't the only company with a history of tuning Subies. So does Cosworth, and now the British racing firm appears to be turning its attention to the BRZ and its Toyota- and Scion-badged siblings.
For those unacquainted, Cosworth is more than your average tuning company. It's a racing firm first and foremost, having made F1 engines under its own name as well as Ford's (chief among them the all-conquering DFV 3.0-liter V8 of 1960s and 70s fame), not to mention engines for Indy, rally and even high-performance, road-going versions of the Ford Sierra, Chevy Vega and Mercedes 190E. The list goes on and on, but you get the point.
Now withdrawing from Formula One, Cosworth is focusing its attention on tuning road cars again with the launch of the Cosworth Power Package line, the first of which will focus on the Toyota GT86 (aka Scion FR-S) and Subaru BRZ. We don't know just yet what will be included in the packaged dubbed FA-20, but from the video teaser below, it seems there'll be upgrades to the exhaust, suspension, aero and - if we're lucky - maybe a super- or turbocharger for the 2.0-liter flat-four engine. We'll have to wait and see, but we get the feeling that with Cosworth on the job, it'll be worth the wait. Check out the minute-long video below in the meantime.