The subprime auto market looks to be in poor health as the number of borrowers with outstanding loans that are more than 60 days overdue continues increasing. While the number has a tendency to rise and fall between seasons, the general trend toward indebtedness has been going up since 2015, with increasingly more customers boasting lackluster credit scores becoming incapable of footing their transportation bill.

Delinquencies skyrocketed in 2020, as government lockdowns pushed many out of work and now appear to be increasing due to a recovery plan that primarily seems to be serving cooperate interests and the wealthiest socioeconomic classes. Though it should be said that middle and lower-class families had been losing ground for decades, at least according to the latest Pew Research data. Pandemic-related complications only served to accelerate the existing financial disparities on all fronts. We are now on course for poorer people to have even less money moving forward, especially in the world’s most developed countries.

I wonder why so many people are defaulting on their car loans… Read More >

Ford squeezed an amazing amount of value out of the 1960 Falcon‘s chassis design, with everything from the 1964-1973 Mustang to the 1980 Granada rolling Falcon-style. The Falcon itself got replaced here by the Maverick starting in 1970 (with one year of overlap when both were available), but the Maverick still had the 1960 Falcon’s bones under its skin. Millions of Mavericks (and near-identical Mercury Comets) were sold here during the 1970-1977 period, and nearly all of these affordable commutemobiles got crushed decades ago. Still, I run across the occasional Maverick/Comet during my junkyard journeys, and I found this optioned-up ’76 in a Denver-area yard last summer. Read More >

VIN 001s are a rarity few can appreciate, let alone afford. Barrett-Jackson, auctioneers with aplomb, moved a handful of them last weekend at their auction in Scottsdale, Arizona.

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Rare Rides has touched on Monte Carlo once before, in a well-past-its-prime NASCAR / Jeff Gordon edition from 2000. Monte Carlo surfaced again more recently, as its Nineties iteration was effectively a renamed second-generation Lumina coupe. But we’ve never covered the Eighties Monte Carlo, which was a very popular car in the midsize segment at a time when the personal luxury coupe was alive and well.

And someone kept today’s 1987 example in as-new condition.

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Car dealerships are a conundrum. For decades, they’ve prevailed despite changes in every aspect of what occurs at a new car dealership. The big question is whether they will continue doing business as they have, or will there be changes to a system that’s out of touch with buyers today?

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Xiaomi, a Chinese smartphone colossus, has announced they are building their own branded electric vehicles (EVs), just like Apple, Huawei, Sony, and Foxconn.

If you’re prepared to lose money, starting a car company is easy. Just ask Tesla. Xiaomi has plenty, enough to sink $10 billion into the venture over the next 10 years.

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One of Volkswagen’s joint ventures in China has reportedly offered to purchase regulatory credits from Tesla in order to adhere to the regional environmental ascendancy. While VW may be doing everything in its power to swap over to an electric-vehicle manufacturer, it’s apparently falling short of government dictums.

FAW-Volkswagen — which shipped a little over 2 million automobiles in Asia last year — happened to be one of the biggest polluters of 2020 according to China’s Ministry of Industry and Information Technology. As it turns out, selling internal combustion vehicles consumers actually want to purchase in large quantities has some kind of environmental cost. Fortunately, it’s one regulators think can be solved by buying green credits from rivals who do all of their polluting during the initial assembly process and launder any future emissions through the national energy grid.  Read More >

Waymo, the autonomous program backed by Google-parent Alphabet, seems to have upset some residents of Phoenix, Arizona, who have elected to whip eggs at the company’s test vehicles. Selected due to its lax regulatory standards, the state has become home base for Waymo to pioneer its self-driving vans since 2016. However, newly released police reports paint a picture where the locals are far less enthused with the vehicles’ progress than Waymo’s marketing materials would suggest.

A subset of Phoenix citizens has been demanding the firm improve transparency and offer better explanations for some of the higher-profile crashes since 2018. Despite Waymo assuring the public that mishaps are rare, local reports showed some erratic behavior among the test mules operating in 2020. While a few of these incidents made the news, local police reports from Chandler and Tempe (metropolitan Phoenix) indicate there was a slew of incidents we did not know about — many of which involved encounters with frustrated, human motorists.

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A warning was issued today to owners of 2021 Chevrolet Express and GMC Savana vans with 6.6-liter gas engines by the National Highway Traffic Safety Administration (NHTSA). If a battery short circuit were to happen, there may be a low battery voltage warning, the battery might die, or an engine compartment fire could take place.

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Following in the footsteps of those hilarious Germans, we’re going to be changing our name to better reflect a changing automotive landscape as it shifts to electrification.

From now on, we’re The Truth About Current.

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Today’s Rare Ride is largely forgotten. Some call it a “super car,” while others argue over whether it was a kit car or a production vehicle. It seems to be the latter, not that it makes much of a difference 25 years later when so few were made.

Come along and learn about Tojan, a very special take on a Pontiac.

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Gearing up for its debut on April 15th, Hyundai has released renderings of the Santa Cruz, its ground-breaking pickup named for a sleepy Northern California beach city.

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Kia has issued a kind of extended teaser for the all-electric EV6, with the latest example giving us a fairly comprehensive look at the more extravagant version. The EV6 GT will be a swift and squat crossover (or perhaps portly hatchback?) using the E-GMP architecture that currently underpins the Hyundai Ioniq 5 and several more dedicated electric vehicles South Korea has yet to put into production.

That makes the EV6 an incredibly important model for Kia and the Hyundai Motor Group as a whole. Fortunately, the manufacturer seems eager to make a good first impression — which is probably why it led with the 576 horsepower, GT trimmed model.  Read More >

Today, Lexus dropped the LF-Z concept car, stepping on the electric-vehicle (EV) accelerator. By 2025, the company expects to have 20 new PHEV, HEV, and BEV models from which to choose.

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On Tuesday, Mercedes announced it would be pouring roughly $59 million (€50 million) to build the all-electric Sprinter van at three facilities. One of them will is the American MBV factory in Ladson, South Carolina, with the remaining two sites naturally situated in Düsseldorf and Ludwigsfelde, Germany.

Over 200,000 Sprinter and Metris model vans have been assembled in the United States since 2006, though the automaker had actually been using the state to avoid the chicken tax for much longer. Considering the region is the second-largest market for Sprinter vans, Mercedes is not interested in dissolving its American commitments either. The investment will be spread across the three facilities for the necessary tooling to build the EV variant the automaker already started selling in Europe.

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