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Toyota, Honda, Mazda and Nissan recall 3.4 million vehicles for faulty airbags

Most vehicle recalls that take place these days are a result of some problem that happens during the manufacturing process by the automaker, but as we see here, parts suppliers can also factor in to problematic safety issues. Automotive News is reporting that a total of 3.4 million vehicles produced by Japanese automakers between 2000 and 2004 are being recalled globally due to faulty airbags produced by an outside supplier, Takata Corp.
According to the report, vehicles from Toyota, Honda, Nissan and Mazda are being recalled because of passenger front airbags that do not inflate properly. Globally, Toyota is said to be recalling around 1.73 million cars including 510,000 in the US composed of Toyota Corolla, Matrix, Sequoia and Tundra as well as the Lexus SC430 for the 2001 through 2003 model years; this is the second time this year the 2003 Corolla and Matrix have been recalled for an airbag problem. Honda is recalling 1.14 million models, Nissan another 480,000 and Mazda 45,463. The article says that Takata supplied faulty airbags to non-Japanese automakers, but it did not specify which ones.
Honda and Toyota have released information on their own websites about the recall, while Nissan and Mazda have not yet commented. Read official press releases from Honda and Toyota, below, and look for updates as we have word from the others.

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.

Toyota Mirai officially first hydrogen-powered pace car

In addition to the chance to see bumper-to-bumper racing in a unique atmosphere, the roar of V8 engines is one of the things that compel people to attend NASCAR events, rather than watching them from the couch on TV. The front end of the Toyota Owners 400 at Richmond International Raceway was a whole lot quieter, though, because the 2016 Toyota Mirai made its debut as a pace car there. Outfitted with a light bar and a special livery, the Mirai became the first hydrogen fuel cell vehicle to ever pace a NASCAR race and led the cars to the green flag for Saturday night's Sprint Cup round. The sedan was tested prior to the event to prove it had the performance required to lead the 43-car field. "Bringing the Mirai to Richmond to pace this important race is another way for Toyota to showcase our innovation and environmental leadership," Ed Laukes, company vice president of marketing, performance, and guest experience, said. There's some precedent for Toyota to show off its green credentials to the NASCAR audience. In 2009, a Camry Hybrid paced the Coca-Cola 600. The automaker's fuel cell tech already had a maiden motorsport outing, too. Late last year, the FCV Concept, which previewed the Mirai, was the zero car to check the roads for the Shinshiro Rally in Japan. TOYOTA MIRAI TAKES TO THE TRACK 23/04/15 Mirai Will Pace Toyota Owners 400 at Richmond Mirai Is First Hydrogen Fuel Cell Electric Vehicle to Pace a NASCAR Race RICHMOND, VA. (April 23, 2015) – Toyota today announced the 2016 Toyota Mirai, a hydrogen fuel cell electric vehicle, will pace the Toyota Owners 400 NASCAR Sprint Cup Series race at Richmond International Raceway on Saturday night, April 25. Today's approval allows the Mirai to serve as the first hydrogen-fueled vehicle to pace a NASCAR race. It will lead the Sprint Cup Series field to the green flag at Richmond on Saturday night and emit only water out of its tailpipe along the way. "Having a hydrogen fuel cell vehicle pace the Toyota Owners 400 is a historic moment for both Toyota and NASCAR and we're proud it's the Toyota Mirai," said Ed Laukes, vice president of marketing, performance and guest experience, Toyota Motor Sales, U.S.A.