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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 says C-Max mpg reduction has hurt sales

The Ford C-Max is having a rough time. Sales for the five-door hybrid hatchback were down 39.1 percent in March to 2,295 cars, and sales from January through March were down 42.5 percent to 5,566 units. In an interview with The Detroit News, Ford Americas boss Joe Hinrichs places the blame on lowering the model's fuel economy rating.
"We're definitely seeing consideration on C-Max decline over time. We need to reinvest in the product because it's a great car," said Hinrichs to The Detroit News.
The company was hit with bad publicity over the C-Max when owners in multiple states filed class action lawsuits that alleged the cars weren't able to meet the stated fuel economy. Ford eventually re-rated the model from 47 miles per gallon city, highway and combined to 40 mpg city, 45 mpg highway and 43 mpg combined. To soften the blow of the change, the automaker sent checks to the owners to make up some of the difference. Initially, Ford claimed that demand remained strong for the hybrid. However, the latest sales figures and Hinrichs' statement seem to show the opposite.

Ford reveals 345-horsepower output for new Focus RS [w/video]

When Ford revealed the new Focus RS at the Geneva Motor Show, it promised it would deliver "well in excess of 315 horsepower." It didn't say exactly how much that would come to, but now it has. On the eve of its dynamic debut at the hands of Ken Block at the Goodwood Festival of Speed, Ford has confirmed that its new hot hatch will pack 350 metric horsepower. Those reaching for their calculators will find that works out to 345 horsepower by our standards. The power output is backed up by 324 pound-feet of torque, capable of being boosted up to 347 for up to fifteen seconds at a time. Those figures come from a retuned version of the same 2.3-liter EcoBoost turbo four as the one available in the Mustang, but produces over ten percent more power thanks to a new turbocharger, upgraded intake and exhaust, and a larger radiator. All that muscle will be channeled to all four wheels through Ford Performance's new all-wheel drive system with dynamic torque vectoring, launch control, and selectable drive modes, including a Drift Mode that (as you can see from the video below) allows the hot hatch to get more than a little sideways. Ford still isn't saying what those specs will translate to in terms of measurable performance figures, but as far as output goes, things are looking pretty good. The 30th Ford RS model already packs more power and torque than the new Honda Civic Type R (306 hp, 295 lb-ft), Volkswagen Golf R (292 hp, 280 lb-ft), Subaru WRX STI (305 hp, 290 lb-ft) or the Nurburgring-conquering Renault Megane 275 Trophy-R (271 hp, 266 lb-ft) and Seat Leon Cupra (276 hp, 258 lb-ft). It even respectably holds its own against the more upscale BMW M235i (320 hp, 330 lb-ft), Mercedes A45/CLA45 AMG (355 hp, 332 lb-ft), and Audi RS3 (362 hp, 343 lb-ft). Whether it'll outshine them all in real-world conditions remains to be seen, but we're looking forward to finding out whenever Ford deems fit to drops those performance stats on us. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.