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Toyota delays Mexico plant as it plans U.S. plant with Mazda

TOKYO — Toyota will push back the start of operations at its scheduled new plant in Mexico, to the first half of 2020 from the initial plan of 2019, the company said on Thursday. Japan's top automaker had initially planned to start building the Corolla sedan at the $1 billion Guanajuato plant but said last week it would switch production to a new U.S. factory to be built with Mazda. Toyota said the delay was necessary to adjust its supply chain in Mexico to produce the Tacoma pickup instead of the Corolla compact car. That factory could also build sport utility vehicles, a Toyota spokesman in Mexico said last week. "With the production model change to the Tacoma pickup, the start of production will consequently be in the first half of 2020," a Toyota spokeswoman said. "However, we will make our utmost effort to advance the timing in order to minimize the impact to suppliers and the local community." Until the scheduled start of the joint venture plant with Mazda in 2021, Toyota will supply the Corollas that were initially slated to be built in Mexico from its factories in Mississippi and Japan, the company said.Related: Mazda-Toyota partnership has us dreaming of a rotary hybrid Reporting by Makiko YamazakiRelated Video:

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.

New Toyota semiconductors could increase hybrid fuel efficiency by 10%

Toyota may have an ace up its sleeve in the fuel economy wars, as it's developed a new type of semiconductor that will allegedly help the company's hybrids net a ten-percent improvement in fuel economy.
The tech is still in development, although Toyota is already reporting five-percent gains during testing, six years before it plans to implement the new semiconductor in production vehicles, meaning the ten-percent improvement doesn't seem like an untenable goal. That is, until you hear from Kimimori Hamada, the project general manager of Toyota's electronics division.
"We are aiming for great improvement in fuel economy and miniaturization," Hamada told Automotive News. "This is a very challenging target."