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Jim Lentz exposes more details behind Toyota's move to Texas

Toyota's North American CEO Jim Lentz has already given us a rough idea of what prompted the company's surprise move to the Dallas suburb of Plano, TX from its longstanding headquarters in Torrance, CA. A new story from The Los Angeles Times, though, delivers even more detail from Lentz on the reasoning for the move, what other cities were considered and why the company's current host city wasn't even in the running.
Of course, one of the more popular reasons being bandied about includes the $40 million Texas was set to give the company for the move, as well as the state's generous tax rates. According to Lentz, though, the reason Toyota chose Plano over a group of finalists made up of Atlanta, Charlotte and Denver, was far simpler than that - it was about consolidating its marketing, sales, engineering and production teams in a region that's closer to the company's seat of manufacturing in the south.
"It doesn't make sense to have oversight of manufacturing 2,000 miles away from where the cars were made," Lentz told The Times. "Geography is the reason not to have our headquarters in California."

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.

Scion's would-be savior C-HR spied before its Toyota rebadging

Scion is dead, but one of its future products, the C-HR concept, is still in development for launch as a Toyota. Toyota does a thorough job of hiding the C-HR's rakish shape on these test cars, but we can spot the concept's design cues. For example, the pointed nose and narrow headlights are present, and the giant box on the roof can't hide the downward arch for the coupe-like rear. The back doors on these examples look larger than before, which suggests a switch to a traditional five-door body rather than the hidden rear openings on the concept. The change would offer easier access to the backseat and make the C-HR a better competitor in the segment against vehicles like the Honda HR-V, Mazda CX-3, and Jeep Renegade. The C-HR debuted as a boldly styled three-door crossover at the 2014 Paris Motor Show. Toyota later restyled the CUV with a more angular shape and extra doors. We most recently saw the compact crossover with Scion branding at the 2015 Los Angeles Auto Show. Rumors suggest the production model's debut at the Geneva Motor Show in March, and it could arrive at dealers in the latter half of 2016. The powertrain lineup likely consists of a four-cylinder engine with a CVT and possibly a hybrid version, too. You'll also get to see the C-HR on the track because Toyota will race the crossover in the 2016 Nurburgring 24 Hours. Related Video: