2004 Volvo S80 2.5t 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.

Volvo fires up S60 and V60 Polestar production

We were pretty smitten with the Volvo S60 and V60 Polestar models during our First Drive in Sweden a few months ago. We especially loved the way that its Öhlins adjustable dampers offered a perfect balance between suppleness and sporty handling. Now, the rest of the world will finally be getting the chance to take the Polestar models for a spin because Volvo is shipping out the first units of the limited-edition vehicles.
Their completion marks the first time ever that Polestar-tuned models have come off the line at Volvo's Torslanda factory. However, production of the 350-horsepower hatchback and sedan is very limited. Volvo is building a total of just 750 of them for the world market, and the US is only getting 80 wagons and 40 sedans.
In addition to the cutting-edge dampers and more powerful engine, both Polestar models benefit from a rear-biased all-wheel-drive system routed through a six-speed automatic with paddle shifters and launch control. Six-piston Brembo calipers bring things to a halt, and the limited models get unique front and rear fascias and 20-inch wheels. These are two very hot Swedes, and if rumors are right, then there are even more tuned Volvos from Polestar on the way. Scroll down to read the full announcement.

2025 Volvo EX30 Ice Drive: Sliding through Sweden in Volvo's charming new EV

GULLTRASK, Sweden — The irony of testing the new 2025 Volvo EX30 on a frozen lake mere miles south of the Arctic Circle is about as strong as the nonstop snow whipping my face upon exiting the sumptuously warm haven that is this little crossoverÂ’s colorful interior. Chances are, very few EX30 buyers in the United States will find themselves in such extreme conditions that studded winter tires become a non-negotiable item. But hey, when the opportunity arises to put what is arguably one of the most exciting new EVs introduced in the past year through the sort of ice driving Volvo does while testing on the companyÂ’s Swedish home turf, the only reasonable answer is, “Yes, please.” WhyÂ’s the EX30 so exciting? There are 36,245 reasons why. Most new EVs are inarguably expensive propositions, but with a starting (and startling) price of just $36,245, the EX30 aims to buck that trend. Not only is it inexpensive in comparison to the vast majority of EVs on sale today, but on paper and in person, it looks like a car one would expect to cost significantly more. The EX30Â’s performance figures are a huge contributor to this disconnect. Its single-motor, rear-drive model produces 268 horsepower and 253 pound-feet of torque (0-60 mph in 5.1 seconds), while the dual-motor AWD model amps that up to a rocking 422 horsepower and 400 pound-feet of torque (0-60 in 3.4 seconds). The performance party trick here is that the EX30 is lightweight for an EV, coming in at just 4,140 pounds with AWD or 3,858 pounds with RWD – that comes in handy when youÂ’re on ice. The Bjorntrask Ice Track just outside the hamlet of Gulltrask is not easy to get to. First, one must find your way to the Baltic-adjacent town of Lulea, Sweden. ItÂ’s one of the most bustling towns in the remote landscape that is northern Scandinavia, and it just so happens to host a small airport, which sees about nine arriving flights per day. Lulea is far enough north that itÂ’s covered in a permanent blanket of snow from November until spring hits, and the snow coverage you see on the coast only increases the further one drives inland. Unlike most winter-stricken American states, Sweden doesnÂ’t use salt to help clear snow and ice from its roads. Instead, gravel is used in abundance, but frankly, itÂ’s not much help when snow consistently covers it right back up.