2019 Ford F-250 Xl on 2040-cars

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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 recalls 382k vehicles across six campaigns

Ford needs to repair a total of 381,633 vehicles in North America across six newly announced campaigns, including five safety recalls and one compliance recall. By far the largest of these campaigns covers the 342,271 examples of the 1998-2003 Windstar to double check an earlier recall repair. Among these, 283,413 are in the US and 58,858 are in Canada. The combination of corrosion and stress can cause cracks in the rear axle and eventually lead to the part to snap completely. The company reports a small number of accidents might be connected to this, but there are no injuries. The minivans were recalled for this issue back in 2010, and it was investigated by NHTSA. According to Ford's latest announcement, the reinforcement brackets on some of these models might not have been installed correctly. This time, dealers will perform an inspection. Minivans with incorrectly installed brackets will get a new rear axle. The rest of the owners will be offered a deal to replace the part at a reduced cost. The next largest campaign covers 36,857 examples of the 2015 F-150 to fix a problem with the adaptive cruise control. Specifically, there are 33,481 affected trucks in the US, and 3,376 in Canada. According to Ford, "when passing a large, highly reflective truck" the radar in the system can misidentify a semi as being in the same lane as the pickup. The collision warning system would then activate, slowing the F-150. There's one report of an accident with this happening but no injuries. The fix is simply an update to the adaptive cruise control module software. Ford also has a recall for 1,477 examples of its 2016 F-53 and F-59 stripped chassis models, and they're all located in the US. A manufacturing issue might allow the trucks to shift into reverse without the driver first applying the brakes. There are no reports of any accidents from this, though. To repair the problem, the models get a new transmission shift control bracket and an adjustment to the shift cable. The Blue Oval's safety compliance recall covers 708 examples of the 2016 Fusion and Lincoln MKZ, including 658 of them in the US, 28 in Canada, and 22 in Mexico. On these models, a manufacturing problem with the fuel tank could allow it to crack in a crash, which isn't allowed under federal rules. There are no reports of accidents, injuries or fires. The fix will be a new fuel tank for all of them. The company is also repairing 251 units of the 2015 Taurus and Lincoln MKS, plus the 2016 Explorer.

Are you the next Ford Edge? [UPDATE]

What looks to be the next Ford Edge has been leaked in an apparent corporate Powerpoint presentation deck. Despite the thumbnail image's blurry and pixelated quality, it appears as if the next generation crossover will be staying close to its current aesthetic despite an all-new front clip with redesigned grille, headlamps, and lower fascia with integrated fog lights.
The upscale-minded Blue Oval CUV is due for a redesign in 2015, having just received a mid-cycle refresh for 2011. It isn't clear what changes lie beneath the new skin, either in terms of mechanicals or interior refinement, but we suspect Ford will be looking to put some distance between the next generation model and the new Escape, which is suddenly much more car-like and not that far off the more expensive Edge in terms of overall size, power or refinement.
UPDATE: Substituted clearer image - thanks, Sean!