1932 Model A Ford Woody Wagon With Matching Trailer 1986 Running Gear 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.

Mulally wanted to kill Lincoln as late as last year, Fields vows to turn it around

Lincoln fans might want to give incoming Ford CEO Mark Fields a pat on the back for having a hand in saving the brand from the chopping block last year. He's among the people spearheading the rejuvenation of the division away from its stodgy image to appeal to younger customers.
According to two unnamed sources speaking to Bloomberg, CEO Alan Mulally was ready to kill Lincoln last year. Following the slow production ramp-up of the MKZ combined a with a costly ad campaign, Mulally was frustrated and openly suggested dropping the brand. However, Fields and Jim Farley, Ford's marketing boss, convinced the CEO that the brand was worth saving. They also created a plan to prevent similar problems for new models in the future.
It seems that one part of the strategy may involve waiting until new models are at dealers before starting a big ad campaign for them. Lincoln global director, Matt VanDyke, recently told Autoblog that the division is holding off on a full marketing push behind the new MKC crossover to prevent the supply problems that plagued the MKZ last year. Its big offensive begins in the fall when the CUVs are at all of the dealers and consumers are at home watching more TV. VanDyke also told Bloomberg that Fields, Farley and Joe Hinrichs, Ford president of the Americas, have more direct oversight over new product launches now.

Ford hiring 2,200 salaried US workers this year

With its influx of popular new products made in the US, Ford Motor Company has announced that it intends to hire 2,200 new salaried workers domestically this year. This is the biggest increase of salaried workers for Ford in the last 10 years, and it is all a part of Ford's contract commitment to the United Auto Workers union to bring 12,000 new jobs to the US by 2015.
There were no specifics as to where in the US these job openings will be, but Ford did reiterate that it will be spending $773 million on equipment upgrades and capacity expansion at six plants located in southeast Michigan; as a whole, Ford is investing a total of $6.2 billion to its US assembly plants over the next couple years. According to recently appointed president of the Americas Joe Hinrichs, the new jobs will be focused on areas such as engineering, manufacturing and computer software. Ford will post its job openings online at careers.ford.com, and it will also use social media sites like Facebook and Twitter to recruit new workers, including military veterans.
Scroll down for more about Ford's planned job growth as well as how to go about applying for said openings.