2015 Chevrolet Corvette Stingray on 2040-cars

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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.

Expect greater differentiation in GM's next-generation SUVs

General Motors says its next-generation Chevrolet Tahoe, Suburban, GMC Yukon and Cadillac Escalade models will offer shoppers improved interior differentiation. Car and Driver recently caught up with Chris Hilts, GM's creative manager of interior design, who said that the cabins will all feature unique instrument panels, consoles, center stacks and switchgear moving forward. Apparently GM is now aware that consumers may be bothered by the fact that today's $85,000 Escalade has effectively the same cabin as a $45,000 Tahoe. Hilts says SUV buyers want more refinement than their pickup purchasing counterparts - and those same buyers also want their SUVs to have more exterior differentiation between the company's Silverado and Sierra pickup lines. Shocking.
That all sounds good to us, but we've heard this song and dance before. GM made big waves about how different the new-for-2013 Silverado and Sierra would look from each other, but judging by what we've seen so far, GM's stylists are painting in shades rather than with the full spectrum. For more on the what to expect out of GM's new SUVs, click on the C/D link below.

Why the Corvette is Chevrolet's billion-dollar baby

Edmunds has worked up a piece that tries to figure out just how much the global Chevrolet Corvette economy is worth, a spitballed guesstimate putting the number at more than $2.5 billion with the proviso that the number is probably low. It starts by taking Corvette's new car sales of 14,132 units last year, which would equate to $714,725,900 (including destination) assuming ever car sold was a base coupe with no options. In the final tally, a little extra padding gets that number up to $750,000,000.
But that's not all. Consider this: Many of the almost 1.4 million Corvettes produced over the model's history are still on the road. There are new parts being produced and aftermarket companies like Mid-America Motorworks deaing business, that single Illinois company doing more than $40 million a year in sales. There are the Corvette events large and small, restorers who do nothing but Corvettes, salvage yards that deal only in used Corvette parts and the Corvette magazines where owners find all this stuff.
And then there are the Corvette-themed tchotchkes, every single one of which provides a tiny contribution to the huge licensing royalties that General Motors collects every year. The article admits there's no way to come to an accurate number, but it just goes to show how valuable one specific model can be to a company.