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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 TRD Pro lineup coming next week

A mysterious Toyota commercial recently popped up on YouTube teasing a new TRD Pro lineup for the Tundra, Tacoma and 4Runner, and now we're getting our first official word straight from the automaker on the matter. Courtesy of its Facebook page, Toyota is promising that the TRD Pro models will be introduced on February 6th, ready to "conquer the great outdoors."
This date just so happens to mark the first day of the always-truck-friendly Chicago Auto Show, so while Toyota isn't saying as much, we're almost certain the trucks will show up next week in the Windy City. It's not clear what sort of upgrades TRD Pro brings, but it definitely includes black wheels and a tweaked front end featuring a thick, single-bar grille and bold lettering in place of the stylized Toyota logo (shown above on the Tundra).
Scroll down to see the video, and head over to Toyota's Facebook page to see a teaser image of the 4Runner TRD Pro.

2013 Pikes Peak Hill Climb, Practice Day 4

The fourth and final practice day of the 91st Pikes Peak International Hill Climb is complete. Tomorrow everyone will make any last-minute adjustments and get their cars, their bits and bobs lined up in the pits for Sunday morning's this-time-it-counts run.
The Unlimited runners took on the top section of the course today, Sébastien Loeb and his big-mouth Peugeot acing the practice test again with a time of 2:11. Rhys Millen's team proved its got the engine issues of two days ago in the Hyundai PM580T sorted out, posting the next-best time at 2:27.16. The reason we had to dip all the way into the hundredths for his time is because he nipped Romain Dumas by just .31 of them, the Frenchman in the Norma M20FC PP running the course in 2:27.47. In fourth came the Frenchman in the monster Mini, Jean-Philippe Dayraut six seconds back at 2:33.
Time Attack competitors, also on the upper section, were led by Paul Dallenbach in the Hyundai Genesis Coupe with a time of 2:36, Porsche pilot Jeff Zwart crossing the line six seconds later at 2:42, fellow Porsche driver David Donner coming in another six seconds back at 2:48. Dallenbach has topped three of the four practice-day sessions, sliding into the second spot behind Donner only on Practice Day 2.