Se Loaded With Sunroof Leather And Navigation!! New Tires Must See on 2040-cars

Auto blog

Mitsubishi ready to expand PHEV lineup with ASX, Pajero

Mitsubishi likes what it's seen from plug-in hybrid sales of its Outlander SUV in Europe. Now, it looks like the Japanese automaker will go back to that proverbial well within the next few years. And, once again, SUVs will be the medium. Mitsubishi will start selling plug-in hybrid versions of its ASX compact crossover, the company's best-selling model in Europe, in 2017, Automotive News Europe says, citing comments from Osamu Masuko. A year after that, the company will debut the Pajero plug-in hybrid SUV. No details were disclosed about exactly what kind of PHEV powertains will be used in the vehicles, which will be part of the next-generation incarnations of both models. The ASX appears to be a good trial vehicle, given that more than 22,000 of them were sold in Europe through August, Automotive News reports, citing JATO Dynamics. Mitsubishi representatives didn't immediately respond to a request for comment from AutoblogGreen. The company appears to be looking to build on the success of the Outlander Plug-in Hybrid. Mitsubishi sold almost 9,000 Outlander PHEVs in Europe during the first six months of the year. That model pairs a 2.0-liter gas engine with an electric motor and has an all-electric range of about 32 miles.

PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

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.