1981 Volvo Bertone 262c Coupe 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.

Volvo to finally replace XC90 in 2014

There's not a whole lot of life left in the current Volvo XC90, but it seems a replacement is on the way. According to What Car?, Volvo will launch its new flagship crossover sometime in 2014, riding on an all new platform that will eventually underpin several models in the company's range.
According to Volvo boss Hakan Samuelsson, this new architecture will eventually underpin the next-generation S60, V70, S80 and XC60, all of which will be getting mid-cycle enhancements over the next year. In speaking to What Car?, Samuelsson said that Volvo would not try to follow the paths set by BMW and Mercedes-Benz, instead focusing on "safety, elegant design and user-friendly functionality" for its next round of new cars.
The new XC90 will remain a seven-passenger vehicle and will be powered by a range of four-cylinder engines. Volvo will soon be dropping the five- and six-cylinder powertrains from its lineup.

Volvo and Polestar Range Assistant app promises more range for EVs

Volvo and Polestar just released a new app for their EVs that promises to help optimize driving range. It’s called “Range Assistant,” and itÂ’s coming as an over-the-air update to the Volvo XC40 Recharge and Polestar 2. The Volvo C40 Recharge will have it built into the car from the factory. ItÂ’s exclusive to EVs and Volvo/Polestar products running the Android Automotive infotainment system. Volvo says the app has a range-optimizer functionality that automatically adjusts the climate control to improve range. ItÂ’ll also coach drivers with driving style and speed recommendations to increase range on longer trips. The app also comes with passive forms of range improvements. Volvo claims itÂ’ll help better manage battery and regeneration performance. Plus, it has a “smarter timer to precondition the batteries.” For example, when you input a charging destination into Google Maps, the car will automatically precondition the batteries to be ready for maximum charging speed by the time you arrive. ThereÂ’s more data for the driver to scan, too, as Volvo provides greater detail on the available range and real-time energy consumption. Volvo doesnÂ’t put a number or percentage on the range increase that drivers may experience with this new app, but does claim that range will go up because of it. In addition to the new app, Volvo says this latest OTA update includes “further improvements on the safety systems, new information about cold climate impact on battery range and various bug fixes.”  The app is scheduled to be rolled out to the applicable vehicles by the end of October. Its functionality will come baked into the complimentary four-year Volvo Care Package that all Volvo EVs automatically get. Of course, after those four years, youÂ’ll be on the hook for the data connection cost and package fee. Note that the Range Assistant appears to be tied up into this package, and while it wonÂ’t incur a separate fee, youÂ’ll need it and the data connection to take advantage of it after so many years. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.