2015 Toyota Prius Persona Series 4dr Hatchback on 2040-cars

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2016 Toyota Mirai Fuel Cell Vehicle likely to get 60 MPGe

Toyota isn't talking about the Mirai's fuel economy just yet, but that doesn't mean we can't make an educated guess. And we do so by looking at the competition and knowing that the DOE says that "One kg of hydrogen is roughly equivalent to one gallon of gasoline." For now, the Mirai's H2 competition means the 2015 Hyundai Tucson Fuel Cell. It can carry 5.64 kg of hydrogen and has a range of 265 miles. If we do the division there (265/5.64) we get 47 miles per gallon equivalent (MPGe). The DOE says that the miles/kg values are 49 combined, 48 in the city and 50 on the highway while Hyundai lists the official MPGe estimates as 50 combined, 49 city and 51 highway. The simple math gets us pretty close to these official numbers. Or take the 2014 Honda FCX Clarity. With a range of 231 miles and a max of 3.92 kg of hydrogen on board, division gets us to 59 MPGe. Officially, it's rated at 59 miles per kg (combined), with 58 in the city and 60 on the highway. In other words, simple math is a reliable way to calculate rough MPGe. So, we know that the Mirai can hold five kilograms of hydrogen on board and that the car has a 300-mile range. We don't even need a calculator to figure out that the Mirai is looking at 60 MPGe. Interestingly, that might be what the next-gen Prius will get.

Toyota restructuring US operations, possibly moving to Texas

According to multiple sources familiar with the matter, Toyota is poised to announce Monday that it is restructuring its US operations, which may include plans to relocate some of its operations to Texas. Toyota Motor Sales has been located in California since 1957, and is responsible for North American sales, marketing, and distribution for Toyota, Lexus and Scion. According to Toyota literature, its Torrance operations presently employs 6,156 workers and represents a $2.3-billion investment.
Workers in Toyota's Torrance offices were abuzz about the possible relocation to Texas. One young offspring of a Toyota employee even posted to Twitter that her parents warned about the upcoming move, and she said she's refusing to go.
Rumors at one point had Toyota settling in Richardson, TX, just outside Plano. But Autoblog talked to Richardson Mayor Laura Maczka, who said she would be thrilled if that were true, but has not heard anything on the subject. Autoblog also emailed with Bill Sutherland, a city councilman in Torrance, CA, who said, "To date the only info I have is what I have read in the paper expecting a press release Monday."

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.