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.
Ford tumbles to second worst in Consumer Reports reliability survey, list dominated by Japanese [w/video]
Filed under: Acura , Ford , Honda , Lexus , Mazda , Scion , Subaru , Toyota It’s no secret that MyFord Touch has had its share of problems since being introduced, but the most recent reliability survey from Consumer Reports shows just how much this infotainment system has affected Ford . Just two years ago, the automaker was in the top 10 for the institute’s reliability rankings, but since then, it has tumbled to the second-lowest rung just above dead-last Jaguar . In addition to MyFord Touch, CR also attributes a handful of new products that have had issues right out of the gate. Compiled from 1.2 million subscriber surveys, this year’s auto reliability survey heavily favors Japanese automakers, with eight of the 10 spots hailing from Japan. Toyota brands grabbed the top three spots ( Scion , Toyota and Lexus – in that order) with Mazda , Subaru , Honda and Acura filling the next four spots. The only non-Asian automaker cracking the top 10 was Audi at number eight. Audi climbed a total of 18 spots from last year, and Cadillac and GMC round out this year’s top gainers breaking into the top 15. Helping Cadillac’s upward movement, the CTS Coupe was named the most reliable domestic car. Lincoln , Volvo and Chrysler join Ford on this year’s biggest loser list. Scroll down to watch a video and see where some of the other brands rank for reliability this year.
Filed under: Car Buying , Honda , Hyundai , Jeep , Nissan , Toyota , Volkswagen , Volvo If you hear the pejorative “chick car,” what comes to mind? Mazda MX-5 Miata ? Volvo C70 ? Would you believe neither made Inside Line’s list of 2011 models with the highest percentage of female ownership? No. 1, with 57.9-percent female ownership was the Volvo S40 . Considering the female dollar is sought-after, it’s probably too bad that Volvo decided to axe the model for 2012. That means No. 2, the Nissan Rogue with 56.9 percent, could take the top spot for 2012. Or maybe the VW Eos at No.