2003 Toyota 4runner Limited Sport Utility 4x4 on 2040-cars

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Toyota/Mazda factory will reportedly be in Alabama or North Carolina

The Toyota/Mazda factory sweepstakes appear to be nearing a conclusion as Bloomberg and Automotive News are reporting the location has been narrowed down to either North Carolina or Alabama. The joint venture plant worth $1.6 billion would add 4,000 jobs to whichever state lands it. To even be considered, Toyota and Mazda have reportedly sought a $1 billion incentive package from interested states in the form of tax breaks and other support. At least 15 states had apparently been jockeying for the factory, including Mississippi, Illinois, Michigan, Ohio, Indiana, Texas and South Carolina. Toyota presently has an engine factory near Huntsville, Ala. The state is also currently home to Honda, Hyundai and Mercedes-Benz assembly plants. North Carolina currently does not have a car manufacturing plant. This would also represent Mazda's return to American manufacturing, as its present lineup of cars and crossovers is produced in Japan. The company had previously built cars in the United States along with its former partner Ford. Related Video:

Toyota GT86 CS-R3 ready to rally

Toyota is returning to the rally scene with the competition-spec version of the GT86. First announced over a year ago, the GT86 CS-R3 began testing this past summer, and is now just about ready for customer deliveries. Instead of contesting the top tier of the World Rally Championship, the GT86 CS-R3 was designed to compete in the R3 class. It's closely based on the road-going model (better known around these parts as the Scion FR-S), and retains its 2.0-liter boxer four, sending 238 horsepower and 170 pound-feet of torque through a Drenth six-speed sequential gearbox and limited slip differential to the rear wheels. Available in either tarmac or gravel specification, the GT86 CS-R3 comes complete with "body shell, powertrain and all mechanical components required to build the car." It's set to undergo final FIA certification in July, at which point it'll be ready to deliver to privateer rally teams to field in national and international rallies and in the HJS TMG CS-R3 Trophy that kicks off in Germany on July 4. The package sells for ˆ84,000 ($94k at today's rates) before taxes, but customers who place their orders before April 24 will get a ˆ5k discount. Related Video: 23 Jan 2015 GT86 CS-R3 NEARS COMPETITIVE DEBUT TOYOTA Motorsport GmbH is pleased to confirm the final details of the rear-wheel-drive GT86 CS-R3 rally car, which will make its competitive debut this year. Cologne, Germany - The CS-R3 prototype was launched last August and since then has completed an extensive test programme to optimise design and define the final specification of the kit which will be delivered to private competitors and teams. Detailed development has generated improved performance on both gravel and tarmac, while reliability and durability have been prioritised in order to deliver a car which allows cost-effective competition throughout the season and beyond. The CS-R3 has already proved immensely popular thanks to its rear-wheel drive powertrain, with 1,998cc, 238hp boxer engine and six-speed sequential transmission which combine to produce a spectacular driving experience. The first cars will be delivered to customers in May, later than originally forecast to allow improvements highlighted during testing to be implemented. As a consequence TMG has extended its introductory discount.

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.