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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.

Experimental mid-engine XP-819 Corvette going up for auction

It seems to be commonplace that when a new Corvette is in development, rumors swirl about a possible mid-engine layout. As is the case of Chevy's most recent C7 Corvette, these rumors never pan out.
In any case, the idea for a 'Vette with an engine mounted behind the driver can probably all be traced back to a single car, the 1964 XP-819 prototype. Built as an "engineering exercise" back in 1964, the prototype was designed with a rear-mounted engine. History tells us that the idea of a rear-engine Corvette fizzled, and the XP-819 was eventually cut up into pieces and stored at a shop in Daytona Beach, FL.
After sitting for untold years, a restoration project started on the car, and while it isn't yet fully completed, the current owner of the car, Mid America Motorworks, will have the car on display at the 2013 Amelia Island Concours d'Elegance as a "driveable chassis" with hopes of having a fully completed car ready to bring to next year's show.

Why does the Corvette Stingray have so many vents? Here's why

Just looking at the new 2014 Chevrolet Corvette Stingray, it's not hard to see that the car's design was created with aerodynamics at the forefront, but Chevrolet designers point out exactly what went into designing the iconic coupe in a pair of recently released videos. The videos show the Corvette going through early design phases, including clay models and wind tunnel tests, as well as talking to the car's chief engineer, Tadge Juechter.
Both videos help explain various aspects of the C7 Corvette, but it's the aero tuning of the car that is most interesting. This includes extra attention paid to the lower air dam and vented hood to help reduce drag and lift, while the rear quarter inlets are for differential and transmission cooling. Juechter said that some of these aero-tuned elements were inspired from GM's involvement in racing.
If you have about five minutes and you can't get enough information about the new 'Vette, then check out the videos posted below.