2004 Volvo Xc90 2.9l Turbo T6 Awd Luxury Suv Wagon 18" Wheels Low Miles! No Res! 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 changes 'Iron Mark' logo to fit with the times

Volvo's first car debuted in 1927, bearing the Swedish automaker's now-famous "Iron Mark" logo of a circle with an arrow pointing to the upper right. For 73 of the 94 years since that Volvo OV 4 open carriage, the company's been represented graphically by four versions of a two-dimensional-looking logo, either a colorful oval that looks like a sandwich shop sign, or the Iron Mark logo, or just script. From 2000 to 2020, that Volvo cars trademark has changed four more times (plus once for Volvo trucks), Volvo creating three versions of a 3D-looking Iron Mark with a blue bar across the middle containing the script, and in 2020, changing the font of the script. Now that's it's 2021, it's apparently time for another overhaul. Visitors to Volvo's Facebook page realized Volvo changed its profile picture to a new and very flat version of its Iron Mark. This isn't the revolution everyone's making it out to be. When Volvo debuted its last new Iron Mark in 2015, one of the Swedish ad agencies that created it wrote, "The logo has been simplified in its purest form and conveys the brand’s vision: to be the world's most progressive and desirable premium car brand." Thing is, the agencies created two versions of the logo — one in silver with three-dimensional shading that retained the blue crossbar drawn up in 2000, and another in black and white, a solid black circle and attached arrow with a black crossbar bearing white "Volvo" script. The automaker's been using the silver, shaded version everywhere the public would see it. Seems Volvo wanted something even more "simplified in its purest form," though, so it could have simply requested a tweak to the B&W version it's been sitting on for six years.   The question, "Do you like it," probably doesn't matter, because it won't stop anyone from buying the product. Besides, the Volkswagen logo went flat in 2019, Nissan went flat in 2020 and so did BMW, except that its flat roundel is for everything but its cars, and Kia went flat this year — along with Warner Brothers, Pringles UK, and Burger King, that last company seemingly trying to win an award for being plain. Simplicity in two dimensions is the thing now. A Volvo Australia rep told Drive the rollout "will be gradual. [This week] we start by rolling out the updated identity on our main website, main social media platforms and in the new Volvo Cars mobile app.

Thanks for keeping us on our toes, Detroit Auto Show [w/poll]

Here at Autoblog, we love unexpected debuts at auto shows – and judging by our Detroit Auto Show comments and traffic, you do, too. Surprise reveals have been fewer and farther between in recent years with so many ways for vehicles to be teased or leak out, but this week's show has been a revelation. More to the point, it's been a series of revelations, with automakers from around the globe successfully delivering a brace of concept and production surprises. It's made our jobs a lot more exciting and challenging this week, and even though it's actually more work to react and run-and-gun when the sheet is pulled on a surprise reveal than it is to publish an already-written embargoed story, we've had more fun covering this show for you than any domestic show in memory. We hope you've enjoyed the surprises along with us. To that end, borrowing the words of an unnamed automaker PR flack, we'd like to thank the following automakers for enduring "mountain of antacids" and that "creeping sense of paranoia" necessary to keeping ones' wares totally under wraps until the sheets are pulled off the sheetmetal: Buick Avenir concept Chevrolet Bolt concept Ford GT concept Ford Mustang Shelby GT350R Ford F-150 SVT Raptor Hyundai HCD-15 Santa Cruz concept And while we're at it, we'd like to throw in an shout-out to Detroit's substantially revised and revitalized Cobo Center, and in particular, the redone Michelin media center, which is arguably the single best accommodations for writing show stories that we've encountered on the entire international circuit. Well done, everyone. Thank you, and keep the surprises coming. Auto News Detroit Auto Show Buick Chevrolet Ford Hyundai Volvo 2015 Detroit Auto Show