2000 Volvo Xc70 V70 Cross Country Awd Wagon Serviced Low 50k M California Carfax on 2040-cars

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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.

Volvo and Polestar Range Assistant app promises more range for EVs

Volvo and Polestar just released a new app for their EVs that promises to help optimize driving range. It’s called “Range Assistant,” and itÂ’s coming as an over-the-air update to the Volvo XC40 Recharge and Polestar 2. The Volvo C40 Recharge will have it built into the car from the factory. ItÂ’s exclusive to EVs and Volvo/Polestar products running the Android Automotive infotainment system. Volvo says the app has a range-optimizer functionality that automatically adjusts the climate control to improve range. ItÂ’ll also coach drivers with driving style and speed recommendations to increase range on longer trips. The app also comes with passive forms of range improvements. Volvo claims itÂ’ll help better manage battery and regeneration performance. Plus, it has a “smarter timer to precondition the batteries.” For example, when you input a charging destination into Google Maps, the car will automatically precondition the batteries to be ready for maximum charging speed by the time you arrive. ThereÂ’s more data for the driver to scan, too, as Volvo provides greater detail on the available range and real-time energy consumption. Volvo doesnÂ’t put a number or percentage on the range increase that drivers may experience with this new app, but does claim that range will go up because of it. In addition to the new app, Volvo says this latest OTA update includes “further improvements on the safety systems, new information about cold climate impact on battery range and various bug fixes.”  The app is scheduled to be rolled out to the applicable vehicles by the end of October. Its functionality will come baked into the complimentary four-year Volvo Care Package that all Volvo EVs automatically get. Of course, after those four years, youÂ’ll be on the hook for the data connection cost and package fee. Note that the Range Assistant appears to be tied up into this package, and while it wonÂ’t incur a separate fee, youÂ’ll need it and the data connection to take advantage of it after so many years. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

How does a massive Volvo truck compare to a Koenigsegg on a track?

Volvo Trucks thinks that its latest FH semi truck has a little sports car DNA mixed in with the ability to haul heavy loads thanks to its novel dual-clutch gearbox. And the company's marketing department certainly has an intriguing strategy to get the word out about the big rig's sporty traits. First, it staged a prank on an unsuspecting valet on the Italian Riviera, and now the FH has lined up a track battle around the Knutstorp racetrack against Sweden's ultimate supercar - a Koenigsegg One:1.
Fifth Gear host Tiff Needell takes the reins of the big Volvo and spends a little bit of time talking up its I-Shift Dual Clutch gearbox. However, the real fun is seeing the FH taking on the One:1. Of course, a head-to-head battle would hardly be fair against these extremely mismatched opponents. Instead, the challenge is for the 1,360-horsepower Koenigsegg to lap the track twice in the same time or less than the semi can do it once.
You just have to watch the video to see how if the big rig rises to the challenge. Also, scroll down to read Volvo Truck's press release touting the new gearbox, and check out the company's YouTube channel for more views of the race and a behind-the-scenes look.