1969 Ford F100 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.

Ford of Europe celebrates Mondeo's 20th anniversary

Ford's European operations are celebrating a milestone of sorts as the Mondeo, the Blue Oval's bread-and-butter D-segment sedan in the old country, celebrates its 20th anniversary. The mid-sizer, which was sold in the US for a short time as the Contour, has been a far more popular vehicle in Europe - even receiving regular praise from one Jeremy Clarkson.
Narrated by Cockney actor Ray Winstone, the video goes through the Mondeo's years and how it's evolved from 1993 to the as-yet-unreleased fifth-generation model, which is essentially the same as the Ford Fusion that's sold in America. Take a look below for the full video from Ford of Europe.

Ford recalls 9,900 vehicles across two campaigns

Ford is recalling a total of 9,885 vehicles in two campaigns. The Basics: In one recall, Ford will recall 9,017 examples of the 2013 Escape with build dates from January 11, 2012, to April 1, 2013, and the 2013-2014 Focus ST produced between May 3, 2012, and October 14, 2013. The Problem: Splices in the engine wiring harness might not have enough compression, and this can cause the manifold absolute pressure sensor to send incorrect signals to the powertrain control module. This issue could cause the engine to stall. Injuries/Deaths: None reported. The Fix: Dealers will replace the current crimped splices with new splices, according to the National Highway Traffic Safety Administration. If You Own One: The repair campaign will begin on January 4, 2016. More Information: Ford recalled the 2013 Escape and Focus ST in August 2014 for the same problem, and this is an expansion of that campaign, according to company spokesperson John Cangany to Autoblog. The Basics: In the smaller of the two campaigns, Ford will recall 868 examples of the 2013 Explorer, Explorer Police Utility, Taurus, Taurus Police Interceptor, Flex, Lincoln MKS, and MKT. The Problem: The fuel delivery module can crack, which would cause a fuel leak. Injuries/Deaths: None reported. The Fix: Dealers will replace the fuel delivery module. If You Own One: Owners should receive notice soon because NHTSA's report says the recall begins in December. More Information: According to Cangany, this recall is an expansion of a campaign from 2013 for these vehicles. RECALL Subject : Engine Wiring Splices may cause Stall Report Receipt Date: DEC 02, 2015 NHTSA Campaign Number: 15V813000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 9,017 All Products Associated with this Recall Vehicle Make Model Model Year(s) FORD ESCAPE 2013 FORD FOCUS 2013-2014 Details Manufacturer: Ford Motor Company SUMMARY: Ford Motor Company (Ford) is recalling certain model year 2013 Escape vehicles manufactured January 11, 2012, to April 1, 2013, and 2013-2014 Focus ST vehicles manufactured May 03, 2012, to October 14, 2013. Insufficient compression in the engine wiring harness splices to the Manifold Absolute Pressure (MAP) sensor may provide incorrect signals to the powertrain control module (PCM). CONSEQUENCE: The incorrect signals could cause the vehicle to hesitate or the engine to stall, increasing the risk of a crash.