2002 Volvo S60 2.4t Sedan 4-door 2.4l on 2040-cars

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Daimler and Volvo plan hydrogen fuel cell truck production in 2025

LONDON — Daimler's truck unit and Volvo said on Thursday they would start making hydrogen fuel cells in Europe in 2025 via a joint venture, and called for EU policies to help make the zero-emission technology commercially viable. The rival German and Swedish makers of large freight-hauling trucks formed their venture, Cellcentric, in March. They said they would provide more details on large-scale fuel production in 2022, but said Cellcentric was already scaling up prototype output. "Partnerships like Cellcentric are vital to our commitment to decarbonizing road transport," Volvo Chief Executive Martin Lundstedt said in a statement. Aside from the fuel-cell joint venture, the two companies remain competitors. Both hope to test fuel-cell trucks in about three years and start mass producing trucks in the second half of this decade. The European Union has been pushing tighter emission standards, fueling a boom in zero-emission electric cars. But batteries in electric vehicles are very heavy, and hydrogen fuel cells are seen as a potentially more viable zero-emission power systems for long-haul freight in the future. Fuel cells produce electricity from hydrogen, emitting only water. The two truck makers called for the construction of around 300 hydrogen refueling stations suitable for heavy-duty vehicles in Europe by 2025 and about 1,000 stations by 2030. During a video conference with the two firms, European Commissioner for Transport Adina Valean said the commission would this summer propose a revised alternative fuels directive. She said this "will include binding requirements for rolling out hydrogen fueling infrastructure ... and financial support will be available where needed." Automaker Stellantis said this year it would begin deliveries in Europe of its first medium-sized vans powered by hydrogen fuel cells by the end of 2021. Stellantis said at the time that Germany had 90 hydrogen stations and France had 25 — a tiny fraction of the thousands of petrol stations available for fossil-fuel vehicles today. As zero-emission trucks are significantly more expensive than fossil-fuel models, Daimler and Volvo said a "policy framework is needed to ensure demand and affordability." The two companies said policies should include subsidies for "CO2-neutral technologies and a taxation system based on carbon and energy content." Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2024 CES Mega Photo Gallery: Honda concepts, a VinFast truck and flying cars galore

The 2024 rendition of CES is coming to a close, and per usual, it was full of all the funky, futuristic tech the show is long known for. It’s also full of cars and legitimately forward-thinking tech related to cars, and we were on the ground to see it all and bring photos to you in this Mega Gallery.  A boatload of manufacturers attended and made big reveals, from the Star Wars-like Honda concept cars to a pickup truck from VinFast, the sort of debuts we got to see ran the gamut. Of course, there were plenty of reveals and vehicles on the floor that were even more outlandish than concepts from traditional OEMs like Honda and Mercedes. Check out this flying Xpeng car as an example. Or perhaps the flying Mansory car. Apparently, flying cars were a theme. Anyway, make sure you scroll down to check out the various reveals and photos of the cars and technologies revealed at the 2024 CES in our barrage of galleries. Honda 0 Series Honda 0 Series saloon 1 View 26 Photos VinFast Wild pickup VinFast Wild 10 View 10 Photos VinFast VF3 VinFast VF3 1 View 4 Photos VW GTI Prototype with AI-enhanced infotainment CES 2024: New Volkswagen GTI with AI-Enhanced Infotainment View 17 Photos Kia PBV Concept Kia PBV Concept platform View 28 Photos Sony Honda Mobility Afeela concept Afeela by Sony Honda Mobility View 5 Photos Hyundai Mobion Concept Hyundai Mobion Concept CES 2024 View 6 Photos Mullen Five RS Mullen 2 View 14 Photos Mansory Empower concept Mansory Empower concept View 14 Photos Hyundai Supernal S-A2 eVTOL Hyundai Supernal S-A2 View 13 Photos XPeng Aeroht eVTOL Flying Car XPeng Aeroht eVTOL?Flying Car View 6 Photos Verge TS Ultra verge-ts-ultra-ces-2024-electric-motorcycle-01 View 17 Photos Horwin Senmenti Maxi Scooter Range Horwin Senmenti 0 View 12 Photos BMW Teleoperated Valet BMW iX controlled with Remote Valet View 15 Photos Mercedes-Benz MB.OS infotainment Mercedes-Benz MB.OS infotainment system View 9 Photos Lamborghini Telemetry X Lamborghini Telemetry X View 5 Photos Related video: Green Motorsports CES BMW Ford Honda Hyundai Kia Lamborghini Mercedes-Benz Volkswagen Volvo Green Automakers Green Culture Technology Infotainment Smartphone Autonomous Vehicles Commercial Vehicles Concept Cars Polestar Infrastructure

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.