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Ford recalling 12,300 2015 F-150 pickups

Ford is recalling 12,300 of its new 2015 F-150 pickup trucks in North America. According to the automaker, an upper l-shaft may have been riveted improperly on these trucks, which can cause it to separate. If that happens, drivers may lose steering control without warning. Yikes. The affected trucks were built at Ford's Kansas City Assembly Plant between March 21 and 25, as well as the Dearborn Truck Plant between March 21 and 30. There are 12,328 total trucks included in this recall – 8,963 in the United States, 3,348 in Canada, and 17 in Mexico. Only 5,606 of the trucks are in customers' hands, the rest have yet to be sold. Ford is not aware of any accidents or injuries related to this problem, but knows of one incident where steering control was lost, and believes it to be related to this issue. Scroll down for Ford's official statement. Related Video: FORD ISSUES SAFETY RECALL FOR CERTAIN 2015 FORD F-150 VEHICLES IN NORTH AMERICA FOR UPPER I-SHAFT RIVET ISSUE Ford Motor Company is issuing a safety recall for approximately 12,300 2015-model Ford F-150 vehicles in North America for an upper I-shaft that might have been riveted improperly, potentially causing it to separate. If that happens, it could result in the loss of steering control without warning, increasing the risk of a crash. Ford is not aware of any accidents or injuries, but is aware of one report of loss of steering believed to be related to this condition. Affected vehicles include certain 2015 F-150 vehicles built at Kansas City Assembly Plant from March 19, 2015 to March 21, 2015 and certain 2015 F-150 vehicles built at Dearborn Truck Plant from March 21, 2015 to March 30, 2015. There are 12,328 vehicles that might be affected in North America, including 8,963 in the United States and federalized territories, 3,348 in Canada and 17 in Mexico. Of those, 6,722 vehicles are unsold, meaning 5,606 vehicles are in customer's hands. Dealers will inspect the upper I-shaft assembly and replace it if necessary at no cost to the customer.

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.

2015 Ford F-150 pricing announced, aluminum-bodied truck up just $395

The eagerly anticipated Ford F-150 has had its 2015 pricing announced, adding only a small amount to the pickup's total cost, despite its weight-saving aluminum body. The XL and XLT entry level models only see a $395 boost over the heavier, current-generation, 2014 truck.
The XL starts at $26,615 while the XLT rings up at $31,890. The increase for Lariat is up a similarly negligible $895, to $39,880. Going up the ladder, meanwhile, the leather-intensive King Ranch sees the biggest jump of the F-150 family, with prices increasing $3,515, to $49,460. Finally, picking up the top-end Platinum trim will cost an extra $3,055, with prices starting at $52,155.
The higher prices are being blamed not only on the aluminum bodies, which trim up to 700 pounds of body fat, but on increased levels of standard equipment. While we were expecting a price hike, the fact that the 2015 F-150's volume trims - Ford spokesman Mike Levine told Reuters that the XL and XLT alone cover 70 percent of F-150 sales - have had less than a $400 increase is hugely impressive.