2004 Volvo C70 Lt Turbo Convertible 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.

Watch Polestar talk about the development of its super S60

Polestar is getting ready to deliver its first production car, the Volvo S60 Polestar. Letting the S60 stretch its legs, Polestar Racing driver Robert Dahlgren took the blue sedan from Barcelona, Spain to Jokkmokk, Sweden - stopping for wet-weather testing in Germany along the way.
Dahlgren narrates the journey of the "pilot project" that has 350 horsepower and around 368 pound-feet of torque, and will perhaps be the first in an era of hardcore Volvo production cars. It will go on sale in Australia this Summer, with other markets "under investigation." While we non-Aussies wait with fingers crossed, there's a video below to enjoy.

2015 Volvo Inscription models get classy with an upgraded leather interior

If Volvo's recent spate of cool-looking concepts is any indication, the Swedish brand has some great new styling on the way. But it takes time for new vehicles to come to market. In the meantime, Volvo is livening up some of its interiors with an updated Inscription Package on the 2015 XC60 (pictured above) and S80 debuting at the 2014 New York Auto Show.
The Inscription models see mostly interior improvements with Sovereign Hide leather covering the seats and more leather for the instrument panels, seatbacks, center armrests and embroidered headrests. Inlaid wood acts as decorative trim, and there are plush, new floor mats. Exterior changes are limited to the choice of colors, namely Crystal White Pearl, Electric Silver and - exclusively for the S80 - Ember Black. The XC60 Inscription comes with 20-inch, ten-spoke wheels, and the S80 receives 19-inch versions.
The package's changes are fairly small, but it adds a certain amount of opulence to the models until the new Volvos are ready. Scroll down to read the full details about them.