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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.

Ford investing $500M in engine plant for 2.7L EcoBoost production

Ohio is a hot area for Ford at the moment with the announcement just a few weeks ago that production of the next-generation F-650/F-750 medium-duty trucks would move from Mexico to the Ohio Assembly Plant in Avon Lake, Ohio. Now, Ford is investing $500 million to hire 300 workers at its Lima Engine Plant in Lima, Ohio, to add production of the twin-turbo 2.7-liter EcoBoost V6 for the 2015 F-150.
The latest investment will be used to add a new flexible engine assembly system and renovate 700,000 square feet of the plant for machining and assembly areas. The Lima factory already builds Ford's 3.5-liter and 3.7-liter Duratec V6 engines. The plant opened in 1957, and it's on track to build its 40 millionth engine later this year.
Ford claims that the 2.7-liter EcoBoost will offer V8 performance with better efficiency in the F-150. It comes standard with intelligent stop/start that doesn't activate when the truck is towing or in four-wheel drive, and it's made from a combination of compacted graphite iron and aluminum for low weight and high strength. The company says that V6 engines have already proven popular in the F-150 with 57 percent of trucks in 2014 being equipped with either the naturally aspirated 3.7-liter or turbocharged 3.5-liter EcoBoost engines.

Ford Ka Concept shown in Brazil, could enter production by 2014

The Ford Ka (pronounce it like a Bostonian saying "car") is the Blue Oval's sub-Fiesta offering in a number of markets that aren't North America. It's been a staple in Europe since it launched in 1996 and in South America since 1997, where it's enjoyed quite a bit of popularity as an affordable, efficient city car.
The European and South American models grew apart over the years, until Europe ended up with a Fiesta-inspired car and Brazil retained a more evolved version of the original Ka's styling. With this Ka Concept, which is really a concept in name only, Ford is previewing a Ka not just for the European market, but as the brand's new, global small car. With city car sales expected to grow dramatically in coming years and the ever increasing price of fuel, Ford's move to get a new, competitive car into the market on a global level isn't surprising.
Wearing Ford's new, familial grille, the Ka Concept features the same crisp, sculpted sheetmetal that's adorned the Fusion and Fiesta. Developed in-house by Ford Brazil, a production version could launch by 2014, according to Ford's press release. It's unclear what engines will sit under this car's hood, although we'd bet the 1.0-liter, EcoBoost three-cylinder from the Fiesta will be available at some point.