2023 Volvo Xc40 Twin Eawd Plus - New $59,040.00 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.

Apple announces CarPlay in-car iPhone interface

Apple, maker of tech items like the iPhone, iPad and Mac line of computers, is extending its reach into the automotive market, making a fairly big announcement ahead of the Geneva Motor Show. No, it hasn't bought Tesla (yet). Instead, Apple has announced CarPlay, an all-new means of controlling an iPhone through your car.
Now, this doesn't strike us as some gimmicky thing. It's become increasingly common for automakers to take advantage of the high-speed data streams its customers enjoy on their smartphones in order to integrate navigation, traffic, audio and other infotainment items into a car's touchscreen interface. The Chevrolet Spark and Sonic are two prime examples of this move, using an iPhone's data stream for Siri integration and data for a third-party navigation app.
Owners will be able to plug in their iPhones to their cars via the USB port and gain control of a number of the device's functions, all through a car's touchscreen.

Volvo updates Inscription packages for 2015 XC60, S80

Volvo is improving the luxury offered by the XC60 and S80 with upgrades to both models' Inscription packages for 2015. It is also making all of its models (other than the soon-to-be-replaced XC90) available with its new Drive-E engine family and Sensus infotainment system.
The Inscription package was previously available on both the XC60 and S80, but new upgrades include Sovereign Hide leather throughout their interiors, including on their instrument panels, seatbacks, center armrests and headrests. Inscription also adds wood inlaid trim and new floor mats. On the outside, the package is offered in Crystal White Pearl, Electric Silver and - exclusively for the S80 - Ember Black. The XC60 comes with 20-inch, ten-spoke wheels, and the S80 receives 19-inch wheels of the same design.
As part of its sponsorship of a yacht race, Volvo is also bringing the XC60 Ocean Race Edition to the US. Buyers will get their choice of black or blonde leather seats with orange stitching, a map of the race route on the rear load cover and the event's logo around the car.