Volvo V70 2003 Wagon Collision Repairable Rebuildable Salvage Clean 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.

2015 Volvo S60 T6 Drive-E [w/video]

The Swedes Bend Sixes And Fives Into Fours
With government agency pressures mounting, the auto industry's latest engine and powertrain trends invariably include the cobbling of heretofore eight-cylinder models into charged (either turbo- or super-) six-cylinder models, six-cylinders into charged four-cylinders and so on. And then there's the mating of these downsized engines to fuel-saving automatic transmissions with ratio counts previously reserved for bicycles and semi trucks. Volvo can at last follow suit with the best of Germany and Japan thanks in great part to an $11-billion multi-year investment by its Chinese owners, Geely.
After we survived the recent Frankfurt Motor Show marathon of news and reveals (chief among said bits being the stunning Volvo Concept Coupe), we were escorted by the Swedish automaker to the far less frenetic air of southern France to explore the most significant step yet in the company's new life. Volvo's entire movement of new tech is referred to as Drive-E, and it includes these all-new four-cylinder engines we just tested, a new modular architecture called Scalable Product Architecture (SPA) that will first be found under the next-generation XC90, along with a host of other onboard advancements. Think of it as a Scandinavia's version of Mazda Skyactiv, a total-systems approach to developing more efficient yet more sporting new models.

Tony Nicolosi named CEO of Volvo Cars North America

Volvo announced today that it has named Tony Nicolosi, president and CEO of Volvo Car Financial Services VCFS), as the new CEO of Volvo Cars of North America (VCNA). Nicolosi replaces John Maloney, who chose to leave due to family obligations after Volvo offered him a position in Europe.
Volvo says Nicolosi will remain president and CEO of VCFS while he assumes VCNA's top position. The Swedish automaker also says a "permanent successor [to Maloney] as President and CEO will be the subject of a later announcement."
The move comes as part of a management shakeup that's part of a "larger transformation taking place at Volvo," the automaker says.