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2016 Chevy Colorado and GMC Canyon recalled for opening console lids

The Basics: General Motors is recalling 9,200 examples of the 2016 Chevrolet Colorado with build dates between August 25, 2015 and September 24, 2015, and the 2016 GMC Canyon manufactured from August 28, 2015 to September 24, 2015. In total, 8,763 of these pickups are in the US, and the rest are in Canada or Mexico. The Problem: The console compartment lid could open in a crash, and the items inside the storage compartment might hit occupants during the accident. This fault puts the pickups out of compliance with the Federal Motor Vehicle Safety Standard. Injuries/Deaths: None reported. The fix: Dealers will replace the console compartment door latch assembly with an improved part. If you own one: GM has not yet told NHTSA when the repairs for these pickups begin. Related Video: RECALL Subject : Console Door may not Fully Latch/FMVSS 201 Report Receipt Date: DEC 01, 2015 NHTSA Campaign Number: 15V807000 Component(s): LATCHES/LOCKS/LINKAGES Potential Number of Units Affected: 8,763 All Products Associated with this Recall Vehicle MakeModelModel Year(s) CHEVROLET COLORADO 2016 GMC CANYON 2016 Details Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2016 Chevrolet Colorado trucks manufactured August 25, 2015 to September 24, 2015, and GMC Canyon trucks manufactured August 28, 2015 to September 24, 2015. The affected vehicles have a console compartment lid latch assembly that may fail to keep the compartment door closed in the event of a crash. As such, these vehicles fail to comply with the requirements of the Federal Motor Vehicle Safety Standard (FMVSS) number 201, "Occupant Protection in Interior Impact." CONSEQUENCE: If the console compartment door does not remain closed in a crash, the contents stored in the console may strike the vehicle occupants, increasing their risk of injury. REMEDY: GM will notify owners, and dealers will replace the console compartment door latch assembly, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Chevrolet customer service at 1-800-222-1020, or GMC customer service at 1-800-462-8782. GM's number for this recall is 16370. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

Chevy Crossvolt name kept alive in new trademark application

In April 2011 General Motors submitted a trademark application with the US Patent and Trademark Office for the word "Crossvolt." In November of this year, the application expired for lack of a statement of use. But in August of this year, GM applied again for the same trademark, leading some to believe that it intends to apply the name to a vehicle. That vehicle could explain the mule in sliced-and-diced Chevrolet Orlando bodywork caught in several spy shots this year, theorized to be some kind of Toyota Prius V or Ford C-Max Hybrid competitor; or it could be a production version of the Chevrolet Volt MP5 concept showed off at the Beijing Motor Show in 2010, which was about the same size as the Chevy Orlando. Or it could be none of those things – but the fact that Chevrolet is keeping it current makes us believe it will be... something. Featured Gallery Beijing 2010: Chevrolet Volt MPV5 concept View 13 Photos News Source: Fox News, Trademarkia Green Chevrolet GM Crossover Hybrid trademark uspto

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.