No Reserve 2001 Volvo V70xc All Wheel Drive Super Clean Leather Runs Fantastic 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.

Cyan Racing shows slightly tamer resto-modded Volvo P1800 GT

Cyan Racing, which was known as Polestar until Volvo purchased the rights to the name in 2015, has unveiled an evolution of its resto-modded P1800 that puts a bigger emphasis on comfort. Called GT, the coupe remains as attractive as its more track-focused sibling. If you need a refresher course, Cyan Racing branched out into street-legal cars when it unveiled a P1800 with classic good looks and modern performance in 2020. That was arguably the worst year to launch anything, let alone an expensive reboot of a relatively obscure classic, but Cyan was on to something: it didn't take long for the brand to receive its first orders.  Viewed from the outside, the GT looks a lot like Cyan's original P1800. It features two-piece bumpers, a front splitter, wheel arch flares and a racing-style fuel filler cap that pokes through the trunk lid. It's inside that you'll find some of the bigger changes: Cyan fitted more comfort-oriented front seats and installed a different roll cage, for example. The brand also notes that it installed more sound-deadening material. Power still comes from a turbocharged, 2.0-liter four-cylinder engine, though it has been tuned with a focus on drivability rather than on flat-out performance. How much power varies from car to car. The output of Cyan's previous P1800-based builds ranges from 350 to 420 horsepower. The turbo-four spins the rear wheels via a five-speed manual transmission, and the coupe weighs less than 2,200 pounds thanks in part to a carbon fiber body. The adjustable suspension system is specific to the GT and softer than the track-bound model's, too. Cyan notes that production of the P1800 GT will be limited, though it doesn't have a specific number of units in mind. Every build starts with a donor P1800, and production takes place in Gothenburg, Sweden. The process requires between 12 and 15 months of work per car. As for pricing, it depends on how the car is configured. Cyan told Autoblog that the average price of the cars built so far hovers around $600,000. That's a lot, but customers keep coming: Cyan notes the second car from the production run has already been shipped to the United States. Featured Gallery Cyan Racing's Volvo P1800 GT, official images View 9 Photos Aftermarket Design/Style Volvo Coupe Luxury Performance Classics

Next Polestar Volvo sounds great, whatever it is

Something - we don't know what yet - is coming from Polestar. While we'll be recovering from next week's LA Auto Show and Tokyo Motor Show (and starting to slack off ahead of an extended Thanksgiving weekend), the official tuner of Volvo products has announced plans to unveil its latest creation in less than two weeks.
Based on this video teaser, we can only imagine (and hope) that it's the souped-up Volvo V60 recently caught testing by our spy shooters. The idea of a high-performance Volvo wagon was already enough to get us giddy last month, but the exhaust note in this video is downright captivating. Scroll down to watch the teaser for yourself, and be prepared for some bright blue wagony goodness to be revealed on November 26.