2004 Volvo Xc70 Awd Wagon Automatic Leather Moonroof Being Sold 'as Is' 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.

US could get Chinese Volvos soon, possibly Geely joint-venture subcompact?

After a little more than three years since Volvo was acquired by China's Geely, it was only a matter of time before products from this marriage started to show up in the US. Although nothing seems to be written in stone, Automotive News is reporting that the US could be getting Chinese-made Volvos sooner rather than later.
In speaking with AN, Volvo CEO Hakan Samuelsson said that Chinese Volvos could be exported to the US "fairly quickly," and while there was no word on any specific models being considered, the article points out that the S60 (shown above) is already being produced locally in China at a Volvo plant. Another possibility is the next-gen V40, which has reportedly received plenty of support from US Volvo dealers. Regardless of which model it is, Samuelsson doesn't seem too worried about a "Made in China" car receiving a negative reaction by US consumers, pointing to all the other Chinese products sold here.
On a global scale, AN is also reporting that Geely is working on a new subcompact platform co-developed with Volvo to compete against cars like the Honda Fit, Ford Fiesta and VW Polo. There is no word as to whether or not this Geely-branded model would be coming to the US, but just last year, we heard that the Chinese automaker is looking to break into the US market by 2016.

Current Volvo XC90 to live on in China?

The current, long-serving Volvo XC90 might not be going away as soon as we thought - at least not in China. According to word from CarNewsChina, the crossover's production will be moved to Daqing, China, in December and from that point on, be built at Geely's factory. The only available engine will be a 2.5-liter turbocharged five-cylinder.
According to the report, the present XC90 and the imminent next-generation model will both be sold in the market, but the Chinese-made vehicle will be positioned as a cheaper alternative. Geely will also develop a crossover of its own from the platform that should be ready in late 2015.
Volvo plans to launch the new XC90 later this year to replace the aging model, which has been on the market for over a decade. It will ride on the company's new Scaleable Product Architecture platform and will be powered by the automaker's new Drive-E four-cylinder engine family. Hybrid versions will also be available.