1974 Toyota Land Cruiser 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.

Camatte concept puts the Toy back in Toyota [w/videos]

It's been two years since Toyota first revealed its Camatte show car at the Tokyo Toy Show. Though sadly never destined for production, Toyota brought the concept back the following year as the Camatte 57s roadster, and is now returning to the same show with yet another take on the kid-friendly, configurable 1+2 with interchangeable body panels - this time with a slew of features that are fresh not only to the concept itself, but to the industry altogether.
This year the Camatte is being showcased in two forms: a bare chassis in the Tech Lab that lets kids see the inner workings of a modern automobile, and another in the Design Lab that lets kids draw their own motif for the concept that is then displayed on an LED hood.
The overall approach reminds us of the way Toyota's budget brand Daihatsu unveiled the Kopen roadster concept at the Tokyo Motor Show late last year, only even more kid-focused and decidedly more light-hearted than you might otherwise expect from one of the largest industrial giants in the world, and could only have been made for a toy exposition. In Japan. Which would explain the ridiculously upbeat videos below, where you'll also find the brief press release.

Toyota confirms all-wheel drive V8 hybrid for TS040 LMP1 car in 2014

The 2014 FIA World Endurance Championship is gearing up to be one of the most exciting seasons of endurance racing in recent memory. All of the factory-entered LMP1 class cars are using hybrid powertrains, and Porsche is returning to the top class of the sport after a 16-year absence. Don't count out Toyota, though. The team has just revealed the first official details about its 2014 TS040 LMP1 car, and it has a big surprise - all-wheel drive.
The TS040 will follow Audi's lead and will use a combination motor and generator to power the front wheels. The system will generate power under braking and will use it up when accelerating to give a boost in traction over last year's rear-wheel-drive Toyota TS030. Toyota will stick with a gasoline-fueled, naturally aspirated 3.4-liter V8 to feed the rear wheels and will take on Audi's diesel, turbocharged 3.7-liter V6 and Porsche's gasoline-fueled, turbo 2.0-liter four-cylinder.
Sadly, there are no real pictures of the TS040 yet. Toyota is holding off on unveiling the car until the end of March at the WEC test at the Paul Ricard circuit, and the racing season doesn't begin until April 20 with the 6 Hours of Silverstone. You can read the whole press release about the TS040 below.