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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 aligning model range into three families

Things have been slow in Gothenburg the past few years, but they're picking up speed. The only new model Volvo has released in the past four years since it was taken over by Geely - that being the V40 introduced in 2012 - started its development when the company was still under Ford's umbrella. But now the Swedish automaker is preparing to launch a volley of new models, and the new XC90 is only the starting point.
Volvo has set out to align its product portfolio into three model families - 40, 60 and 90 - each with three body-styles: sedan, wagon and crossover. (Volvo presented a tidy little table, which we've replicated below, to outline what it has in store.) That means a new S40 sedan and XC40 crossover as well as a replacement for the current V40 wagon, all to be based on a new platform shared with Geely. It also means replacements for the current S60, V60 and XC60 to be based on the modular SPA platform that underpins the new XC90, as well as a new S90 sedan to replace the S80 and a new V90 wagon to succeed the V70 and move it up-market above the V60.
All of these models are set to arrive within the next four years as Volvo moves to replace its entire lineup by 2019 and subsequently move to more competitive seven-to-eight-year product life-cycles. But as aggressively as Volvo is pursuing this renewal of its core models, they're not the only things Gothenburg has in store. Keep reading below to learn how Volvo's model line will flesh out over the coming years.

Volvo Trucks makes some pretty strong brakes

Often dashcam footage from Russia shows some of the worst driving imaginable, but this is an exception. The Volvo truck driver in this video definitely earned himself a drink or two at the end of the day after making it through this potentially horrific crash. As do the folks at Volvo that engineered those brakes.
The truck driver shows some fantastic reaction time as the silver hatchback suddenly pulls out of an intersection. It looks like he only has a few yards to bring the behemoth to a stop before demolishing the little car. While it's an impressive feat, the best part of the video has to be the driver's bow when he gets out of the truck. He looks like a maestro who just finished conducting a symphony asking for a round of applause.
Scroll down to check out this truck driver's skills and see if he earns his bow afterward.