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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.

2016 Chevy Volt will be available across Canada, unlike most of US [UPDATE]

UPDATE: The story's been updated to add a response from General Motors of Canada. It's not enough that the Toronto Blue Jays may be the most intimidating team in Major League Baseball. Now, it appears that our neighbors to the north will also have some bragging rights in regards to General Motors' Chevrolet Volt extended-range plug-in vehicle. Specifically, most of Canada will have access to the 2016 version before most of the US will. In fact, the car will be available in Canada before people can buy it in Michigan. A trip to Windsor, Ontario, anyone? The Volt, which will boast a longer plug-in range than the current version, could go on sale in Canada as soon as November, GM Authority says. The model's second-generation version may debut in California as soon as this month, and is slated to be sold later this year in the 10 other states that abide by the so-called CARB (California Air Resources Board) rules for zero-missions vehicles. Those states include Oregon, Maine, New York and Massachusetts. But not GM's home state of Michigan. Either way, the new generation model's debut can't come soon enough for the US automaker, as Volt sales in 2015 have seriously lagged the 2014 numbers because of people waiting for the new version. "We will receive the 2016 Volt in Canada this fall, starting with our key Volt markets in Quebec, Ontario and British Columbia," wrote General Motors of Canada spokesman George George Saratlic in an e-mail to AutoblogGreen. "Note these are also the three provinces that provide provincial incentives on EV purchases. We'll then roll out Volt to the rest of the country." Last week, details were revealed about the first sales of the 2016 Volt, where marketing efforts will be concentrated among the largest plug-in buying states in the union. The other 39 states will get their shot starting next year with the 2017 model-year variant. Related Video:

2015 SEMA Show Recap | Autoblog Minute

We take a trip to Las Vegas for a preview of the 2015 SEMA Show, the trade show for automotive aftermarket professionals and enthusiasts. Autoblog's Eddie Sabatini reports on this edition of Autoblog Minute, with commentary from Senior editor, Greg Migliore. Chevrolet Ford Honda Mazda Autoblog Minute Videos Original Video galpin