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Weekly Recap: Electric Rapide concept showcases Aston's future

Aston Martin showed off an all-electric Rapide S prototype this week and announced an agreement with investment firm ChinaEquity to explore development of a production version of the sports sedan. The car could arrive in about two years if the project advances, and it would be built in Gaydon, England. The concept car, called the "RapidE" was developed with Williams Advanced Engineering. The electric Rapide is meant to highlight British innovation, and it was revealed during a state visit by Chinese president Xi Jinping to the United Kingdom. Spec were not available for the concept on display. "The car we showed in London is a fully running concept but not yet defining [of] our choice of battery, motor, inverter, etc," spokesman Simon Sproule said. "Now that we have a clearer path for producing the car, we will be defining all the parameters." Aston Martin has been vocal about its electric ambitions this year, and Sproule told us at the New York Auto Show that an all-electric Rapide could cost $200,000 to $250,000 or more. "It's a study, but we're serious about it," he said. Some reports have indicated the electric Rapide could pack as much as 1,000 horsepower. Aston considers electric technology the strongest play for modernizing its powertrains and meeting emissions standards around the world. Hybrids and all-electric models can offer high outputs and strong torque delivery, which is in keeping with the Aston's image as a sportscar maker. Company brass prefer this option over dropping down to four-cylinder engines. And yes, V8s and V12s remain part of the plan. The electric push is part of Aston's future strategy to remake its lineup, which includes refreshing its sportscars, building a production version of the electric all-wheel-drive DBX concept shown at the Geneva Motor Show, and adding a four-door Lagonda. OTHER NEWS & NOTES Domino's serves up purpose-built delivery car Domino's revealed a purpose-built pizza delivery car based on the Chevy Spark. It's called the DXP, for Delivery Expert, and it can handle up to 80 pizzas. The pies stay warm thanks to an oven located behind the driver's seat, and the DXP is sauced up with a puddle-lighting feature that projects the Domino's logo outside of the car. Power comes from the Spark's stock 1.2-liter four-cylinder engine rated at 84 hp that gets up to 39 mpg on the highway. Chevy dealers will be trained to service the DXP.

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.

GM to make most cars LTE hotspots for 2015

General Motors isn't the first automaker to deliver in-car Internet access, but a proposed plan announced today could make the technology more widespread than any of its competitors have offered. By the 2015 model year, most Chevrolet, Buick, Cadillac and GMC products in the US and Canada will offer 4G LTE mobile broadband access. Initially, GM will just be pairing with AT&T to deliver this service, but additional carriers will be revealed in the future.
Current in-car Wi-Fi hot spots are limited to 3G, but GM says that 4G LTE is 10 times faster than 3G service and will allow for full Internet access, including streaming video for entertainment as well as services like real-time traffic updates and navigation driving directions. There is also no need for a paired smartphone with this new system, which should make it easier to use, and GM and AT&T will also be working together to develop new apps for customers.
Buyers can expect to start seeing 4G LTE in their cars starting next year, and GM is already planning to expand the service to other global markets as well. All of the information from GM's announcement is posted in a press release below.