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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.

Toyota makes $100M investment to boost Indiana Highlander production

Toyota has announced that it will be making a $100 million investment in its Princeton, IN factory in a bid to increase production of its popular Highlander CUV. The move will create 300 new jobs by 2016 and increase the total number of crossovers the plant can produce by 30,000.
Toyota currently builds the Highlander, alongside the fullsize Sequoia, at Toyota Indiana's West Plant. The additional capacity, though, will be sent to the East Plant, which is currently responsible for production of the recently refreshed Sienna minivan.
"The Highlander has been a great product for our plant," Toyota Indiana President Norm Bafunno said in a statement. "Establishing Highlander as the 'bridge vehicle,' as we call it, between the East and West plants increases our ability to meet customer needs for our outstanding products. This exciting news is a true testament to the capability of our hard-working and dedicated team members."

2017 Toyota 86 Drivers' Notes | Fun, even with an automatic

The Toyota 86 is a car that enthusiasts begged Toyota to build for decades. It's small, lightweight and rear-wheel drive. Thanks to a partnership with Subaru that resulted in the BRZ, this stylish coupe hit the streets in 2012. In the U.S., the car was originally known as the Scion FR-S but was rebadged as a Toyota after Scion was axed last year. Along with a new name, the 86 received updated styling both inside and out as well as a revised suspension and a slight bump in power, at least for the manual models. This Hot Lava-colored car doesn't feature Toyota's slick six-speed manual. Instead it rocks a six-speed automatic with paddle shifters. While some enthusiasts may look down at that, automatics make up more than half of 86 sales. Still, the bones are there, and some people don't think the automatic is all that bad. Either way, we can't encourage enough people to buy these cars, as we want Toyota and Subaru to keep building them. Senior Editor, Green, John Beltz Snyder: When I first slid behind the wheel of the 86, I was surprised to see the gear selector and paddles. It's one of those cars that you don't think of as having anything but a manual transmission. Also, in an interior where all the controls and displays are underwhelming, a set of paddle shifters stands out as one of the few tactile objects in the cabin. I ended up using the paddles quite a bit, and found that I actually enjoyed using them, so much so that I'd actually consider opting for the automatic transmission were I to buy an 86. Despite shifts that aren't as razor sharp as they could be, the car's high-revving engine means that it still feels great to use. Riding an engine like this up to its redline, filling the cabin with noise, is the sort of thing that'll give you goosebumps. Being able to keep both hands on the wheel while shifting is a good thing for engagement in this car, based on my time with it. Plus, when I got stuck in traffic, I didn't have to wear out my left leg. The other brilliant thing about the Toyota 86 is its sense of balance. I loved the way it communicated its load distribution when cornering, whether on or off the throttle or brake. The fact that the nose of this car snaps right to where you want it when you start dialing in steering angle is satisfying. And its low stance and good view out the windshield make it really easy to place on the road.