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Mustang, Camaro, Challenger gallop onto USPS pony car postage stamp set

Some of America's most iconic cars are about to be immortalized on postage stamps. A new set by the U.S. Postal Service will celebrate the the golden era of pony cars, featuring five classic examples of Detroit iron. Each one is beautifully illustrated in oil-on-canvas style, with subjects in motion and sunlight glinting off the chrome, and would add a nice touch to any first-class letter. The pony car segment was all about (relatively) small, sporty alternatives to the full-size land yachts of the 1960s. They typically came equipped with 6-cylinder engines or small-block V8s. The category was named after the Ford Mustang, hence  the name. Some, though, argue that the Plymouth Barracuda, which was launched a couple of weeks before the Mustang, is the first. Luckily, the Falcon-based Mustang's distinct styling generated a sales sensation, or we might be calling them fish cars. Appropriately, one of the featured cars is a Mustang. But it's not just any Mustang. The 1969 Boss 302, seen here resplendent in Bright Yellow, was created for the hotly-contested SCCA Trans-Am racing series. One of its main rivals would have been the 1969 Chevy Camaro Z/28, also created specifically for the series, and is included in the set in Fathom Green. Representing Auburn Hills in the set is a 1970 Dodge Challenger R/T in Plum Crazy, while Southfield's American Motors gets a nod with an AMC Javelin in Big Bad Orange. The Mustang's platform cousin, a 1967 Mercury Cougar XR-7, is portrayed in a gorgeous Burgundy Poly that almost looks incomplete without Neko Case on the hood. It's not the first time the USPS has honored America's rich car culture on its stamps. In 2013, it issues a series of muscle car stamps with the help of Richard Petty. That set featured a 1966 Pontiac GTO, 1967 Shelby GT-500, 1970 Chevelle SS, 1970 Plymouth Hemi ’Cuda and, of course, a 1969 Dodge Charger Daytona. Another set in 2016 featured classic pickup trucks. Going further back, a 2008 release had chroed and finned automobiles of the 1950s and a 2005 release featured sporty American cars of the same era. The pony car stamps will debut on August 25 at the Great American Stamp Show in Sacramento, California in partnership with the American Philatelic Society. The public is free to attend the dedication ceremony, but you must RSVP first. After that, they will be available at local post offices and on line at the USPS store.

Fingers point to dragged-out NHTSA investigation after second death by ARC airbag inflator

Safety advocates have increased criticism of the federal government's National Highway Traffic Safety Administration after an exploding airbag inflator that's been under investigation for more than six years killed a second person.  On Wednesday, NHTSA posted recall documents filed by General Motors that revealed the second death, the driver of a 2015 Chevrolet Traverse SUV with an inflator made by Tennessee company ARC blew apart, spewing shrapnel. No details were given about where and when the death occurred. NHTSA has said that ARC Automotive of Knoxville has manufactured about 8 million inflators used nationwide in vehicles made by General Motors, Fiat Chrysler (now Stellantis), Kia and Hyundai. “NHTSA should have been all over this along time ago,” said Rosemary Shahan, president of California-based Consumers for Auto Reliability and Safety. “There's just no denying that itÂ’s a (safety) defect.” NHTSA, the agency charged with with keeping America's automobiles and roads safe, began investigating ARC inflators in July of 2015 after two people were injured by flying shrapnel. The investigation became more urgent in 2016, when a Canadian woman driving an older Hyundai Elantra was killed by metal airbag fragments. Public records show only a little progress on the probe. In April, the agency posted a memo in saying it was reviewing volumes of information it received from ARC. Safety advocates such as Shahan say that the dragged-out investigation is an example of the deadly consequences that can result from an understaffed and underfunded agency. The second death should not have happened, Shahan said, and vehicles with faulty ARC inflators should have been recalled faster. The agency, Shahan said, is “grossly underfunded," but it still should have sought recalls of the ARC inflators. She said historically NHTSA has taken little action during Republican administrations but has ramped up safety efforts when Democrats control the White House. Messages were left Wednesday by the Associated Press seeking comment from NHTSA and ARC. At this time, relatively few vehicles are effected. The GM recall covers only 550 Chevy Traverse SUVs from the 2013 through 2017 model years, as well as Buick Enclave SUVs from 2008 through 2017. The automaker said in a statement that the faulty front driver's airbag inflators were either installed at the factory or in replacement airbag modules.

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.