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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.

2019 Toyota Corolla vs. compact hatchbacks: How they compare

So you've read what we thought about the 2019 Toyota Corolla Hatchback. Oh, you didn't? Well, click to your left, we'll still be here. Just made some coffee, we're good for a while. Welcome back! Wasn't that riveting? The blue paint sure is bright, eh? Well, now you must be wondering how that new 2019 Corolla stacks up with all the other hatchbacks. And, despite long thinking that hatchbacks were doomed, there are actually quite a lot of them these days. So many, in fact, that we couldn't fit them all in our space-limited comparison chart. So, with apologies to the Hyundai Elantra GT, Kia Forte and the dead-man-walking Ford Focus, these were the cars we chose based on sales and competitiveness: the Honda Civic Hatchback, Mazda3 5-Door, Volkswagen Golf, Chevrolet Cruze and Subaru Impreza. We also included the outgoing Corolla iM for reference. If you think we've left something of interest out, you can always create your own comparison. Performance and fuel economy There is but one king here, and its name is Civic. While the sedan and coupe come with a naturally aspirated 2.0-liter 158-horsepower four-cylinder that's less potent than the Corolla's, the hatchback comes standard with the 1.5-liter turbo that aces the segment in terms of both acceleration and fuel economy. The Golf's acceleration should be comparable, but as you can see, it trails on fuel economy (still not bad, though). The new Corolla ends up being better than the rest with its new 168-hp four-cylinder paired to novel transmissions: a six-speed manual with rev-matched downshifting (!) and a CVT that mimics the actions of a 10-speed automatic. The Corolla does weigh more than everything else, though, so that could hamper its acceleration. Fuel economy data also wasn't announced, but Toyota indicated it would be a bit better than the old Corolla iM. Something akin to the 2.0-liter Mazda 3's numbers seems likely. As for the Mazda, its top two trim levels actually come standard with its bigger engine. In any event, despite its ample power, testing has often showed that the Civic is still the quicker car from 0 to 60 mph. And finally, let's not leave out the two on the end. The Subaru is the only car in the segment that offers all-wheel drive (the Focus RS and Golf R don't count), but is also the segment weakling now that the Corolla iM has been discontinued.

Here’s how 20 popular EVs fared in cold-weather testing in Norway

Electric vehicles are known to suffer diminished performance in cold weather, but some do a better job than others hanging onto their range capacity while cabin heaters and frigid outdoor temperatures sap power from their batteries. Recently, the Norwegian Automobile Federation put the 20 of the best-selling battery-electric vehicles in the country to the test, to see not only how winter weather affected their range but also their charging times. The major findings: On average, electric vehicles lost 18.5% of their official driving range as determined by the European WLTP cycle. Electric vehicles also charge more slowly in cold temperatures. And interestingly, the researchers learned that EVs don’t simply shut down when they lose power but instead deliver a series of warnings to the driver, with driving comfort and speed levels maintained until the very last few miles. Because itÂ’s Norway, the worldÂ’s top market for electric and plug-in hybrid vehicles by market share, the test included many EVs that arenÂ’t available here in the U.S. But there are many familiar faces, among them the Nissan Leaf, Tesla Models S, 3 and X, Hyundai Kona (known here as the Kona Electric) and Ioniq, and Audi E-Tron. In terms of range, the top-performing EV was the Hyundai Kona, which lost only 9% of its official range, which the WTLP rated at 449 kilometers, or 279 miles, compared to its EPA-rated range of 258 miles on a full charge. It delivered 405 km, just enough to nudge it ahead of the Tesla Model 3, which returned 404 km. Other top performers included the Audi E-Tron, in both its 50 Quattro (13% lower range) and higher-powered 55 Quattro (14% lower) guises; the Hyundai Ioniq (10% lower); and Volkswagen e-Golf (11% lower). At 610 km (379 miles) the Tesla Model S has the longest WLTP range of all models tested and went the furthest, but still lost 23% of its range, though it also encountered energy-sapping heavy snow at the end of its test, when many cars had dropped out. The Model 3 lost 28% of its range. The worst performer? That goes to the Opel Ampera-e, better known stateside as the Chevrolet Bolt. It traveled 297 km (about 184 miles) in the test, which was nearly 30% lower than its stated WLTP range. We should also note that Opel, now owned by Groupe PSA, is phasing the car out in Europe and that Chevy recently upgraded the Bolt here in the U.S.