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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.

Netflix to feature electric cars from GM and others in programming

LOS ANGELES — Netflix has unveiled a new star for some of its upcoming programming: electric vehicles from General Motors and other automakers. The streaming service announced an agreement on Thursday to feature vehicles including the Chevrolet Bolt, the electric GMC Hummer pickup and the Cadillac Lyriq in TV series and films "where relevant." The companies will highlight the partnership in a commercial featuring Will Ferrell that will air during the Feb. 12 Super Bowl. Netflix and GM called the agreement "part of a commitment to a more sustainable future." Financial terms were not disclosed. Netflix said it will help creators "better understand how EVs can complement and enhance their stories." Shows that will feature GM's electric vehicles include "Love is Blind," "Queer Eye" and "Unstable." Netflix productions also will include electric vehicles made by other automakers, the company said.   Marketing/Advertising TV/Movies Chevrolet GM GMC Hummer

Chevy Colorado gets Midnight, Trail Boss editions

After introducing a gamut of special editions for the full-size Silverado, Chevrolet is offering a pair of new packages for its midsize Colorado. Following in the Silverado's footsteps, the Colorado Midnight Edition just blacks out all the things. There's a black grille, black Bowtie, and exclusive 18-inch wheels. They happen to be black, as well. In terms of functional changes, the Midnight Edition adds a spray-in bedliner, tonneau cover, and unique sill plates. Potential owners won't be limited on engine options and body styles here, as the blacked-out trim can be added to extended and crew cab bodies, in two- or four-wheel drive models, and with all of the pickup's available engines, including the upcoming Duramax diesel. The only limiting factor is the actual trim level – you'll need to settle for the mid-grade LT. Don't worry, though. The heftier, top-of-the-line Z71 will be offered with its own unique package, called the Trail Boss. As expected, it goes big on off-road character, with LED trail lighting and aggressive Goodyear Wrangler DuraTec tires. There are also black 17-inch wheels, newly flared fenders, side steps, and like the Midnight Edition, a blacked-out grille and spray-in bedliner. Also like the Midnight Edition, the only limit to adding the Trail Boss is that you opt for the Z71 trim. Engines, drivetrains, and body styles are not fixed. Look for both trucks at your local Chevrolet dealer this fall. Until then, scroll down for the official press release. 2016 Chevy Colorado Special Models Dressed to Impress Midnight Edition, Z71 Trail Boss complement capability with customized style 2015-08-03 DETROIT – On the street or on the trail, the 2016 Chevrolet Colorado's Midnight Edition and Z71 Trail Boss bring bolder choices to customers looking to make a visual statement with their truck. The special editions roll into Chevrolet dealerships this fall, with distinctly tailored appearances that blend custom design cues with Colorado's popular options and accessories. The Midnight Edition evokes the aesthetic of an urban tuner vehicle, while the Z71 Trail Boss is designed for terrain where the pavement ends. "These are aggressive editions of one of the country's hottest-selling truck, demonstrating the personalization that's possible with Chevrolet accessories, whether it's for the street, trail or both," said Tony Johnson, Colorado marketing manager.