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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.

2016 Technology of the Year Finalist: 2016 Chevy Volt

The 2016 Chevy Volt is in all ways an improvement over the Volts that came before. It's got a new powertrain, a new look, and new (and better) fuel economy figures. What's not to like? For the second generation, GM used the last few years of automotive battery improvements and customer data to deliver a car that took what people liked about the first Volt and offered up more of that. This means a longer all-electric range (from 38 miles to 53) and better gas-burning fuel economy (37 miles per gallon up to 42 mpg – oh, and you're not required to use premium any more, either). All of this for less money than the outgoing 2015 Volts. Chevy's new plug-in hybrid will start at $33,995, which is not only lower than the 2015's MSRP of $34,170 but it's also just a few hundred dollars higher than the average new car price in the US. In other words, the new Volt (and many other plug-in vehicles) is not out of the price range for most car shoppers. The interior has been updated as well, losing some of the oh-so-futuristic touch-sensitive center stack in favor of more realistic tactile buttons. This along makes the new Volt better than the first generation, but when it's wrapped up in the new exterior design, it just feels more appropriate for a car that's not trying to be from the future. Instead, the new 2016 Chevy Volt wants to be the best plug-in car for right now.

Sabine Schmitz to compete in WTCC race at Nurburgring, hopes for rain

The World Touring Car Championship is set to return to the Nurburgring this year after a 30-year absence. Who better, then, to lead the pack than Sabine Schmitz? One of the most skilled drivers around the Norschleife, 45-year-old Schmitz has been known to compete in the VLN series and in the 24-hour race at the Nurburgring (which she's won twice), and regularly drives tourists on hot laps around the Green Hell. Nobody can drive the circuit better than Schmitz when the rain starts to fall, and fall it often does in the German spring, but she'll have a new challenge on her hands when she makes her WTCC debut in a Chevy Cruze for the Munnich Motorsport team for the German round next month. It'll be interesting to see how Sabine does in the race, given that she has no experience with the vehicle she'll be driving, but has immense knowledge of the notoriously difficult track. She'll have the chance to acclimate a little during the WTCC test session at the 'Ring later this month, and hopes to compete in one of the two races – in Morocco or Hungary – before tackling her home track in unfamiliar machinery. News Source: WTCC via YouTube, BridgeToGantry.comImage Credit: Newspress Celebrities Hirings/Firings/Layoffs Motorsports Chevrolet wtcc