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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.

C7 Corvette makes inaugural ad appearance in Chevy's first spot with new slogan

Chevrolet's "Runs Deep" tagline has finally been run into the ground, replaced with the Bowtie brand's "Find New Roads" slogan that's part of parent General Motors' plan to unify its everyday brand's marketing efforts worldwide. The new Chevrolet campaign was ushered in on prime time last night during the Grammy Awards on CBS, and the first spot, a 90-second full-line ad, also marks the first appearance of the 2014 Corvette Stingray in a commercial.
Being a full-line ad, the commercial is composed of vignettes centered on different vehicles in the brand's lineup. The all-new 2014 Impala also makes its first commercial appearance in dapper fashion, and time is spent on a skateboarding Sonic and a bouquet of brightly colored Spark hatchbacks driven by fashionable women. The ad starts and ends with Chevy's green halo car, the Volt, along with a young girl with her robotic dog (yes, really).
Chevrolet's "Runs Deep" campaign got off to a rocky start in the fall of 2010, but it did last for a couple of years with some tweaks. This new one, "Find New Roads" seems more intent on drawing new customers into the fold than the outgoing tagline, which seemed to play more toward the brand faithful. It admittedly reminds us more than a little the short-lived "Find Your Own Road" Saab motto (which, we note, was conceived while the Swedish brand was under GM's control), but no matter, we still think it's got more long-term potential than "Runs Deep."

First 2016 Chevy Volt commercial rocks us to sleep

The 2016 Chevrolet Volt, with its thorough restyling and increased all-electric range, is an exciting evolution of Chevy's groundbreaking plug-in hybrid, so it's only fitting that the commercial campaign to sell it to the masses also be engaging and vibrant. Well, the first ad has just been officially released and it rocks... us to sleep. Now, we get that General Motors didn't want to repeat past Volt-commercial mistakes. No one wants to see dogs licking feet or dumb (and weirdly horny) aliens again. Nor would it be smart to slam all-electric vehicles, since it now sells the Spark EV and has just revealed its 200-mile Bolt concept. So, what does that leave? How about a mostly computer-generated spot that relies on cliche images and an upbeat synthetic soundtrack to communicate that the Volt is now as boring as other four-door appliances? An intro, featuring a lightly-bearded gentleman peering at his tablet through designer glasses launches us into the action as the Volt makes its way across a city bridge, then a curvaceous country road. Chevrolet doesn't include voiceover to inform you that the new Volt has a 50-mile battery-only range. There's no mention of its gas mileage once its electric charge is depleted – items that just might be of importance to hybrid buyers. The ad also makes no attempt at establishing an emotional connection, either through drama or comedy. There are, however, lots of fast cuts of the new, normalized interior, including a two-second detail shot featuring the windshield wiper switch. We imagine that this is only the first in a series of spots that will tell the Volt story and motivate potential buyers to run down to their local dealer, hopefully the next spots will be more interesting and informative. View 16 Photos