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China's rise, global restructuring wither GM's Korea division

An article in the Daily Kanban suggests the sun is setting on GM Korea, and it could already be well into dusk. GM Korea came about when General Motors, along with co-investors SAIC and Suzuki, bought Daewoo Motors from parent company Daewoo Group in 2001; it had a previous tie-up with GM, a joint venture that ended in 1992, although Daewoo cars were based on GM cars until 1996. Over the decade following the purchase, it became such an important part of operations that it was renamed GM Korea in 2011, "to reflect its heightened status in [the] global operations of GM." Just two years later, the printed rumors were that the subsidiary responsible for a fifth of Chevrolet's global production could be shutting down. The division's sales were down almost 21 percent through November of last year, counting domestic South Korean sales, exports, and CKD – Complete Knock Down – products. That makes the labor strife, already an issue for four years, even more acute, reports say the subsidiary will lose $36 million a year if it can't get the job and wage cuts it wants, and government concessions can't make up for the losses. And it gets worse, so head over to Daily Kanban to read the rest of the story.

Forza Motorsport 6's new drivable Hot Wheels cars are the best

Each month, Turn 10 Studios releases a new car pack for the latest installment of its Forza Motorsport video game. Sometimes that means less-than-exciting stuff coming to our Xbox Ones – BMW X6M, bleh – but this time our inner seven-year-old is beyond ecstatic. Two of the seven cars are based on actual Hot Wheels models. And. They're. Awesome. First we have the 2011 Hot Wheels Bone Shaker. Yes, there are flames on the side. And yes, there's a giant skull where the grille should be. This one came from the imagination of "Mr. Hot Wheels" Larry Wood, whose design was so popular it inspired an actual real-world creation. Like all good things in this world, it's powered by a small-block Chevy V8. Oh, and it has no roof. This will be a popular one among gamers. The other digitized Hot Wheels creation is a 2005 Ford Mustang. A modest vehicle, sure, but the toy designers have festooned this pony car with a wild paint scheme and the body mods to emphasize it. Originally developed to celebrate the 'Stang's 50th birthday, this Hot Wheels car trades Americana for wild Japanese style. There's just one functioning life-size version of this car in existence as well, but if you look hard, you might be able to find one of the 1:64 scale models that inspired it. Other highlights from this month's car pack include the latest Ford Focus RS – finally time to replace that NASCAR-V8-powered, all-wheel-drive 2009 Focus RS – the 2015 McLaren P1 GTR, the 2016 Chevrolet Camaro SS, the aforementioned X6M, and Alain Prost's 1990 Ferrari 641 F1 car. The Hot Wheels Car Pack is available for download today. Related Video: Featured Gallery Forza Motorsport 6: Hot Wheels Car Pack News Source: Turn 10 Studios via YouTube Toys/Games BMW Chevrolet Ferrari Ford McLaren Racing Vehicles Performance video games Hot Wheels forza motorsport chevy camaro ss forza motorsport 6

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.