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Volvo teases refreshed XC90, EX90 updates and 'a surprise or two'

Volvo will show the world the updated XC90 crossover on what the company is calling "90/90" day, which to the rest of us is simply September 4th. The day will also "mark a big moment in the launch of the EX90," which accounts for the second "90." But what's far more interesting was the cryptic teaser Volvo tacked onto the end of its announcement, suggesting that "there might be a surprise or two …" in store for us too. Well, then.  The announcement was accompanied by an equally cryptic teaser image that appears to depict the hoods of the EX90 (top/right) and XC90 (bottom/left). There's not much to see here apart from the differentiating hood creases and some details in the headlights. From what we can make out, the updated XC90 will have a different take on the "Thor's Hammer" LED signature. Anything else is merely speculation. While Volvo hasn't officially put a sunset date on the XC90, we expect this will be the last major update before it is put out to pasture in favor of its all-electric sibling. The writing has been on the wall since Volvo originally unveiled the EX90 in 2022.  As for Volvo's surprises? We're not really sure what to expect. With the EX30 launch dragging on much longer than expected, Volvo is unlikely to be in a position to announce any major new product introductions for the U.S. market. We can't rule out the possibility of some Polestar Engineered variants of existing models; Volvo has already demonstrated a willingness to offer them on crossovers, so why stop now? In any event, we've only about a week to wait. Plus, you'll be able to watch the whole thing live on Volvo's 90/90 Day microsite. 

Volvo EX30 interior is minimalism with clever tricks and a sound bar

Volvo's given us another piece of the battery-electric EX30 puzzle. Our first proper glimpse of the interior proves Volvo was not overstating its focus on minimalism in the EX30. We've gone years now accusing infotainment screen of looking like tablets bolted to the dashboard. The centrally placed screen in the EX30 doesn't resemble an iPad on an instrument panel, it looks like a genuine tablet laid on a shelf. We look forward to finding out whether it can be unlatched from the clip-like supports on the sides. The automaker says all information is presented through the 12.3-inch portrait screen, despite the small curved screen mounted to the steering column behind the wheel. Our guess is the small screen is a gear selection indicator, if it's not for tiny info bites like speed and navigation, akin to what's on the Volkswagen ID.4. The large screen offers a "Calm" setting limiting the display to vitals only, letting some welcome dark into the cabin. For the first time in a Volvo, wireless Apple CarPlay is part of the infotainment functionality. The instrument panel has as least one trick of its own, being a sound bar laid across the top, under the windshield — the same kind of sound bar you'd buy for an OLED television. The unit in the pic is from Harman Kardon; we're not sure if that's standard fit or if it's an upgraded unit that goes with the optional Harman Kardon audio that will be available. Volvo says the EX30 will be the first application of a sound bar in a production car, chosen in part because the bar's clustered speakers cut down on wiring and open up space elsewhere. That's right, the sound bar contains the only speakers in the cabin. The space in the doors where speakers normally go has been converted to storage. Speaking of which, the EX30 picks up a few tricks we saw first on the battery-electric Nissan Ariya. The Volvo's glovebox has slid sideways to the center of the IP, accessible to the driver without leaning over. The center console slides fore and aft, providing cupholders in easy reach or more space for notions. The power window controls are on the center console as well, we hope located on a segment that doesn't slide. Volvo one-ups the Ariya by placing protective walls around the console's storage area on the floor, so little items don't roll left and right.

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.