2013 Volvo S60 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.

Volvo still undecided on offering plug-in hybrid versions of all models

The automotive world is only a few months away from getting its first real glimpse at Volvo's big gamble with the unveiling of the next-generation XC90 (pictured above as the Concept XC Coupe). We're already getting a preview of the revolutionary upgrades with the introduction of the Swede's Volvo Engine Architecture family into some of its 2015 models, like the recently driven S60. These changes are just the start, though. The real magic could be in the powertrains.
Dean Shaw, Volvo Cars North America vice president of corporate communications hinted to Autoblog a few months ago that every model sold in the US could come in a plug-in hybrid variant, starting with the new XC90. Despite confirmation rumors that this has now come to pass, Shaw told AutoblogGreen that the only thing Volvo is confirming right now is that the platform is capable of that. "We haven't confirmed that all US Volvos would be available with PHEV," he said.
Shaw did confirm that that XC90 will come with a gas and plug-in hybrid powertrain that offers "around 400 horsepower." According to Plugin Cars, the new XC90 will be unveiled in August and will make its public debut at an as-yet-unnamed auto show in the fall. Also, sometime during the 2016 model year, a plug-in hybrid variant will be added to its lineup.

New Volvo ad remembers the joy of rear-facing jump seats

With the rise in popularity of first the minivan and later the crossover as the default family vehicle, there have been about 20 years of children who have missed out on the joy of rear-facing jump seats in station wagons. It means kids today don't know the pleasure to be found in making faces or lewd gestures at other drivers while their parents can't see. Plus, they don't know the slightly nauseous feeling of watching the world pass by in reverse. However, a group of filmmakers look back with nostalgia at this increasingly uncommon automotive feature in a new ad for the 2015 Volvo V60.
As part of its sponsorship of the National Film Festival for Talented Youth, Volvo commissions a team each year to create an advertisement to be shown during the festival. This year's shows how the company's buyers have gone from riding in the back to driving the brand's cars. Scroll down to check out the charming ad, along with some wistful looks at classic Volvo wagons, before the jump seat is forgotten.