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2021 Ford Mustang Mach-E, Volvo XC40 Recharge score high in IIHS tests

New electric cars continue their streak of impressive crash test results. The two latest to go through Insurance Institute for Highway Safety testing are the 2021 Ford Mustang Mach-E and the 2021 Volvo XC40 Recharge. The former earned a Top Safety Pick award, and the latter picked up the Top Safety Pick+ commendation. Both vehicles got the top "Good" rating in every crash test, as well as the "Superior" rating for vehicle-to-vehicle collision prevention. They deviate when it comes to headlights and vehicle-to-pedestrian collision prevention. Because the Volvo has headlights rated "Good" on all trims, it got that extra "+" on its Top Safety Pick award. The Ford also has high-rated headlights available, but the standard units got the second lowest rating of "Marginal." As for the vehicle-to-pedestrian collision prevention, the Volvo received the second-highest "Advanced" rating, while the Ford was rated "Superior." Among the electric cars IIHS has tested, the Ford and Volvo continue a streak of high scores. The organization has evaluated the Audi E-Tron in both its body styles, as well as the Tesla Model 3, both of which get the Top Safety Pick+ rating. As a result of the XC40 Recharge's test score, Volvo pointed out that it is the only automaker whose entire lineup has received a Top Safety Pick+ rating. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.  

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.

Last Volvo XC90 rolls off assembly line in Gothenburg

It was back in 1998 when Volvo set about developing its first SUV. The brief was to build a seven-seater that wasn't "too large", and several design proposals were considered. Three and a half years later Volvo revealed the XC90 at the 2002 Detroit Auto Show and the rest, as they say, is history.
Volvo initially had an eye towards selling 50,000 units per year. It achieved that and then some, selling around 85,000 examples per year between 2004 and 2007. Now, after 12 years and 636,143 examples made - still over that initial target on average despite its lingering age that see it selling just 11,000 units these past few years - the last Volvo XC90 rolled off the assembly line in Gothenburg.
That final example is heading straight to the Volvo Museum adjacent to the factory. But it won't, strictly speaking, be the last XC90. It is the last of that model to be built in Sweden, but a new model is on its way. And the current model will continue to be built in Daqing, China, to be sold locally as the Volvo XC Classic. So if you want to get your hands on a seven-seat Volvo crossover, you'll have to move there. Otherwise you can wait until the end of January 2015 for the new model to begin production.