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GM recalls full-size truck, SUVs and vans over faulty shifter mechanism

Twelve different General Motors vehicles from the 2013 model year, up to 54,686 units in total, are being recalled over two potential issues with their steering columns. The models in question, all full-size trucks, SUVs or vans, are the: Cadillac Escalade, Escalade ESV, Escalade EXT, Chevrolet Avalanche, Express, Silverado, Suburban, Tahoe, and GMC Savana, Sierra, Yukon and Yukon XL.
The affected vehicles were built with a fractured parking lock cable or "a malformed steering column lock actuator gear in the lock module assembly." As a consequence, they could shift out of park without the brake pedal being applied or with the key removed or in the off position.
A bulletin from the National Highway Traffic Safety Administration indicates that the recall should begin on January 17. GM will notify owners, at which time they can take their vehicles to their dealers for repair free of charge. Have a look at the bulletin below for more information.

GM recalling over 40,000 Chevy, Pontiac and Saturn models over fuel pump woes

The National Highway Traffic Safety Administration has issued a recall for a number of General Motors cars and crossovers bought or currently registered in the hot-climate states of Arkansas, Arizona, California, Nevada, Oklahoma and Texas. As many as 40,859 units consisting of the 2007 Chevrolet Equinox, Pontiac Torrent and Saturn Ion and the 2007-2009 Chevrolet Cobalt (shown) and its Pontiac G5 twin are being recalled for potential fuel leaks.
This recall is being issued due to potentially faulty fuel pump components that can crack and cause gasoline to leak from the return or supply ports and possibly cause a fire. NHTSA has not indicated how many fuel leaks or vehicle fires have been reported. As a fix, GM will replace the fuel pump modules on all affected vehicles free of charge. Since Pontiac and Saturn have been shuttered, owners will be able to go to another GM-brand dealership to have their vehicles repaired.
While the list of affected cars and crossovers varies by state and model year, if you own any of these models and live in Arizona, California, Florida, Nevada, Oklahoma or Texas, be sure to check the official notice below for more details.

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.