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GM Canada recalls 159,240 GMC and Chevy trucks for faulty defroster circuit

General Motors is recalling more than 159,000 2014-2019 Chevrolet Silverado and GMC Sierra pickup trucks in Canada due to a potential fire risk. GM says the rear defroster circuit could overheat on trucks optioned with the power-sliding rear window. Thus far, there is no word on the recall's relation to U.S. vehicles. The recall, found by Automotive News, was posted to Transport Canada on June 28, 2019 with manufacturer recall No. N192220470. Included in the 159,240 vehicles are the 2014-2018 Silverado 1500, the 2015-2019 Silverado HD, the 2014-2018 Silverado LD, the 2014-2018 Sierra 1500, the 2015-2019 Sierra HD, and the 2014-2018 Sierra LD. The notice says the rear defroster circuit, specifically on trucks with the power-sliding rear window, could overheat. Because of its placement, this excess heat could cause melting, smoking, or possibly fire, in the worst case scenario. As of now, there is no official word when GM will initiate the recall and there is no official fix detailed just yet. GM suggests that owners, who will be notified by mail if their vehicles are affected, take their trucks to a dealer to remove the rear window defroster fuse as a stop-gap.  Automotive News contacted GM to find out if the problem is also found in trucks sold in the United States, but no definitive statement was made, as the investigation is reportedly ongoing. We will update this space if American vehicles are found to be included in the problem.

CA Chevy dealer allegedly adds $50K 'market value adjustment' to 2015 Z06

It seems to happen with every eagerly anticipated new car – dealerships, recognizing that crushing demand far outstrips the initial limited supply of a new model, inflate the price via a so-called "market value adjustment." We've seen it in the past with a number of new models, and now it's happening again with one of the Detroit 3's hottest vehicles. A dealership in Roseville, CA, outside of Sacramento, has allegedly attached a staggering $49,995 market value adjustment to a 2015 Corvette Z06. We say allegedly because, despite the evidence uncovered by BoostAddict, John L. Sullivan Chevy's online inventory listing doesn't display the price premium of the Z06 in question, a (normally) $93,965 model with the top-end 3LZ trim. It's unclear if either of the dealer's other Z06s, both 3LZs, one of which is in transit, will receive similar price adjustments. Now, legally, Sullivan Chevy isn't doing anything wrong here. Dealerships are under no obligation to observe a manufacturer's suggested retail price, a point General Motors' spokesperson Ryndee Carney pointed out to Autoblog via email. "For the Corvette Z06, Chevrolet has established a Manufacturer's Suggested Retail Price we feel is right for the market. Actual transaction prices, however, are the province of the dealer," Carney said, adding that a dealer zone manager will be discussing the price hike with the dealership. While we also reached out to the dealership over both the market value adjustment and the price of the Z06 as it appears on the company's website, we've yet to hear back as of this writing. Should they reply to our inquiries, we'll be sure to update you. Until then, we'd like to hear what you think about this case. Is Sullivan Chevy simply pricing the cars as high as it thinks the market can bear, or is this a cash grab for an hotly anticipated product? Have your say in Comments.

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.