1963 Chevrolet Bel Air Wagon on 2040-cars

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GM recalling 118K Colorado, Canyon pickups over missing hood latches

General Motors has announced a recall of 118,800 Chevrolet Colorado and GMC Canyon pickup trucks due to the possibility of secondary hood latches not being installed at the time of manufacture. The affected vehicles are from the 2010, 2011 and 2012 model years, all of which were built between November 9, 2009 and August 28, 2012.
According to the official National Highway Traffic Safety Administration report, these trucks fail to "comply with the requirements of Federal Motor Vehicle Safety Standard No. 113, 'Hood Latch System.' The hood may be missing the secondary hood latch." In other words, owners of these trucks could find their vehicles' hoods opening unexpectedly while driving.
The official recall campaign is expected to begin on January 17, 2013. Dealers will inspect the affected pickups and if a secondary hood latch is not present, one will be installed free of charge. Scroll down to read the official NHTSA report.

Motor Trend puts Chevy Camaro Z28 and Porsche 911 GT3 Head 2 Head

Motor Trend admits, "This is an unfair comparison." But that doesn't make it any less fun to watch when they pit a Camaro Z/28 against the Porsche 911 GT3. The former has a 7.0-liter V8 with 505 horsepower and 481 pound-feet of torque shifted through a six-speed manual. The latter has a 3.8-liter flat-six with 475 hp and 324 lb-ft shifted through a seven-speed dual-clutch transmission. Yet those are only the little disparities – the big disparities are mass and money: the Camaro weighs 3,882 pounds and costs $76,150 as-tested, the Porsche weighs 3,267 pounds and costs $145,785. But they're both about hardcore performance, so MT takes them out on the street, to the drag strip, to the parking lot for figure eights and a skidpad test, and finally to Big Willow for Randy Pobst to give his professional assessment. Remember when a lotta people spent a lotta time debating Pirates vs. Ninjas? This is like that, only it's the "haul-ass good-time car" vs. the "track surgeon." Enjoy the debate in the video.

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.