1967 Chevrolet Camaro Ss Convertible - Very Rare L78 396/375hp Engine on 2040-cars

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GM program sees dealers taking on way more loaner cars

Given the volume of vehicles we're talking about, this is a significant development for GM's bottom line. Bring your car into the dealership for service, and you may need a loaner car in exchange. And with so many recalls being carried out, that means a lot of loaners – especially at General Motors dealerships. That could be one of the reasons why GM is massively expanding its loaner fleet program. While many Chevrolet and Buick-GMC dealerships have an on-site rental car location operated by a third party like Enterprise (which may or may not provide a GM vehicle), others manage their own loaner fleets. But while the range of dealerships operating such fleets was once small, reports Automotive News, the number has been growing rapidly: from the locations responsible for only 20 percent of those brands' sales two years ago to about 90 percent today. The impetus for that growth comes down to a massive expansion of GM's Courtesy Transportation Program. The initiative encourages dealers to ramp up their loaner fleet to a maximum size determined by GM, with a mix determined by the dealer itself, so that a showroom in Texas can be bolstered with a fleet of pickup trucks and a dealer in California can employ more Volt and Camaro Convertible loaners. The dealership gets a $500 credit for each vehicle its puts in its fleet, and can use those vehicles as loaners for service customers, as multi-day test drivers or to rent out separately. The vehicles remain in the dealer's fleet for 90 days or 7,500 miles, then they can be sold as used, but with new-car incentives. The dealer gets a fleet of loaners, customers get to use the loaners, try out a new car overnight or buy a barely used car with attractive incentives, and GM gets to clock more sales. But therein lies the kicker: the automaker counts the dispatch of the loaner new vehicle to the dealership as a new-car sale, which could end up distorting its sales figures. Counting loaner vehicles as sold vehicles is something of an industry-standard practice, but given the volume of vehicles we're talking about, this is a significant development for GM's bottom line. One dealership - Paddock Chevrolet in Kenmore, NY, for example - had no loaner fleet two years ago, but now runs a fleet of 50 vehicles. Multiply that by the 4,000 or so dealers GM has across America and you're talking about the potential for hundreds of thousands of these sorts of sales.

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.

Chevy rolls out Silverado HD High Country

It's been a good week for heavy-duty truck buyers. First, Ram revealed the Black Package for its HD trucks, then it rolled out its new Power Wagon, and now Chevy's getting in on the action with its Silverado High Country HD. Okay, so it may not pack quite the attitude of Ram's latest 2500-series offerings, but the High Country HD will come as a welcome addition to the Chevy Trucks range to those looking to pull their horse, boat or other trailer without skimping on creature comforts.
Rolled out a little under a year ago, the High Country trim is Chevy's answer to the likes of the GMC Denali, Ford King Ranch and Ram Longhorn. It has until now only been offered on the light duty, 1500-series Silverado, but now extends to the 2500 and 3500-series HD models, as well.
So what sets a High Country pickup apart from lesser Chevy trucks? You'll be able to pick it out based on its chrome horizontal grille, body-color bumpers, 6-inch tubular side steps, 20-inch chrome wheels (18-inch on the 3500 and 17-inch on the dualie) and, of course, plenty of special badging. But it's inside where the High Country makes its mark, with a cabin decked out in saddle brown perforated leather, seats that are both heated and cooled, eight-inch touchscreen with full MyLink suite, Bose audio and park assist functions front and rear to keep those color-keyed bumpers looking fresh. (Though Chevy hasn't yet showed us the interior of the HD model, it'll presumably look mostly the same as the cab in the 1500 High Country in the gallery below.)