1978 Volvo 242 2dr 5spd 4cy 110k Classic Original on 2040-cars

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Tony Nicolosi confirmed as Volvo's North American CEO

This past October, John Maloney stepped down from his post as CEO at Volvo Cars North America. In his place, the Swedish automaker tentatively promoted Tony Nicolosi, who had until then served as head of Volvo Car Financial Services. The appointment was reportedly temporary, giving Nicolosi the title of acting CEO. But according to Automotive News, his position has now been confirmed for the long run.
Although Volvo has yet to announce a new director for its financial arm, Nicolosi says they have found the right person and will announce sometime between now and the National Automobile Dealers Association convention, set to take place later this month in New Orleans.
Last month, Volvo also announced that its global communications chief Bodil Eriksson is moving from the home office in Gothenburg to the North American office in Rockleigh, New Jersey. Anders Kärrberg has been promoted from the government affairs post to take Eriksson's place.

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.

These cars are headed to the Great Crusher In The Sky

It happens every year. We bid adieu to some cars and trucks that will be missed, and say good riddance to others wondering how they stayed around so long. Whether they're being killed off for slow sales or due to a new product coming along to replace them, the list of vehicles being discontinued after 2012 is surprisingly long and diverse.
CNN Money has compiled a list of departing vehicles, to which we've added a few more of our own. In the slow sales column, cars like the Lexus HS 250h, Mercedes-Benz R-Class and the full Maybach lineup appear, while the Ford Escape Hybrid, Mazda CX-7 and Hyundai Veracruz are all having their gaps filled with more modern and more fuel-efficient alternatives. Obvious exceptions to the rule include models that still sell in decent numbers like the Jeep Liberty and the Chrysler Town & Country (which will eventually be replaced by a crossover-like vehicle).
Check out our gallery of discontinued cars above, then scroll down for more information.