Filed under: Car Buying , Chevrolet , Ford , Mitsubishi , Toyota , Volvo , Earnings/Financials 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. Part of the growth in lending is the willingness to offer longer-term loans.
Filed under: Hybrid , Technology , Crossover , Toyota Toyota may be hard at work on a new hybrid version of the RAV4 . AutoExpress reports the automaker is keeping a close eye on the CUV segment to determine whether or not buyers would be receptive to the idea of a hybrid RAV4. Yoshikazu Saeki, deputy chief engineer with the automaker, said that a hybrid iteration wouldn’t be difficult to do. Saeki spoke with AutoExpress during the LA Auto Show , and said that while Toyota has no interest in building either a seven-seat version of the RAV4 or a sportier model along the lines of the Nissan Juke , a hybrid isn’t off the table. “We are watching the market,” Saeki said. “After introducing the new RAV4 we will see. There will be a possibility of introducing a hybrid RAV4 and we will respond to what the market wants.” Than again, we’ve heard these rumblings before . Back in 2009, Toyota said almost the exact same thing after the Shanghai Motor Show three years ago. Toyota RAV4 hybrid in development? originally appeared on Autoblog on Mon, 03 Dec 2012 11:27:00 EST.
LAS VEGAS (Nov. 1, 2012) – With a unique color and a supercharger under the hood, custom-car builder Chris Basselgia of Lebanon, Pa., won Scion’s FR-S Tuner Challenge, announced yesterday at the Specialty Equipment Market Association (SEMA) show in Las Vegas.
LAS VEGAS, (Oct. 30, 2012) – The Scion FR-S earned industry recognition today with the Hottest Sport Compact award on the first day of the 2012 Specialty Equipment Market Association (SEMA) Show in Las Vegas.
TORRANCE, Calif., (Oct. 26, 2012) – Scion revealed its three FR-S Tuner Challenge cars last night in advance of the Specialty Equipment Market Association (SEMA) show that kicks off in Las Vegas on Oct. 30.
TORRANCE, Calif., Oct. 25, 2012 — Toyota’s recently introduced 2013 Avalon is set to enter the market this fall with a radically new design that moves the styling needle distinctly toward passion and excitement. To demonstrate the possibilities of the new premium mid-size sedan, the company created two new concepts that are scheduled to bow on Oct. 30 at the SEMA Show in Las Vegas.
TORRANCE, Calif., June 30, 2011 – – The Toyota Prius, the best-selling hybrid in America, offers an exciting new accessory package for 2011.
April 4, 2011 – Torrance, Calif. – May is college graduation time. And for many new grads that means entry into the “real world” – a world in which credit and extra cash can be in tight supply. To assist college grads in the market for a new vehicle, Toyota Financial Services (TFS), in partnership with Toyota Motor Sales, is offering qualified college graduates a $1,000 rebate toward the purchase or lease of select new Toyota vehicles, including the Corolla, Matrix, RAV4, Camry (excludes Camry hybrid), Tacoma and Yaris and all new Scion models when financed or leased through a participating Toyota dealer and TFS.