Ratings agencies and other players in the finance world are beginning to sound the alarm on auto backed securities. Among the most troubling factors for some investors is the growth of smaller issuers who rely on pools of deep subprime loans. And ratings agencies who are being more conservative with their ratings are missing out on the action.
American consumers may have been robbed of a chance to buy the Mahindra pickup, but how about one from Great Wall?
Sub-prime finance has attracted a bit of interest (no pun intended) over at TTAC lately, and the segment itself has experienced phenomenal growth in the post-bailout era.
Auto lending site www.carfinance.com released a list of the top 10 most popular new and used vehicles as purchased by sub-prime buyers over the last six months. While it’s not the most complete list by any means, it does give us a glimpse into the choices of sub-prime buyers. As far as we know, no such list has ever been compiled prior to this.
The 2014 Cherokee could be the first Jeep produced in China in nearly 6 years. Jeep CEO Mike Manley said that the Cherokee was an “obvious choice” for local production, as Jeep looks to expand its customer base in China.
Despite overwhelmingly positive press for the Fiat 500e, the electric Fiat is known to be a bete-noir for Fiat CEO Sergio Marchionne. Speaking at the SAE Congress last week, Marchionne claimed that Fiat loses $10,000 on each 500e, describing it as “masochism”.
I admit that upon first viewing the Buick Encore, I was repulsed by its goofy proportions and the poor fit and finish on the interior of multiple examples (yes, they were production examples, not hastily slapped together pre-production cars). But the market is what makes the winners and losers in the end, and the baby Buick is putting up some solid numbers.
Despite strong pushes from the government and auto makers, hybrid and plug-in cars aren’t gaining much ground in China. A report by La Tribune pegs registrations for these vehicles at a mere 0.17 percent of all registrations in Q1 2013.
With 2013 heralding the final year for the Lamborghini Gallardo, the supercar firm is also gearing up to produce its last manual transmission car ever.
Road & Track talked to Lamborgihni North America COO Michael Lock who said that paddle shift Gallardos outsell stick shifts by a 9:1 ratio. According to Lock
“We are in an era when customers demand technology and products that adapt to them,”
Translated from marketing gobbldeygook, that means that Gallardo owners are unable to steer with one hand and simultaneously change gears while digitally stimulating their catamite in the passenger seat, so the automated gearbox is here to stay. As part of the three-pedal’s funeral, Lamborghni will offer a stripped-down, rear-drive Gallardo without “frills”. This would be exciting news had Lamborghini not done this before.
But repeat movies are understandable. There are only some many minor variations that can be sold as special editions. At this point, the Gallardo has been on the market for 9 years, a geological age in the context of the supercar market. Lock is seemingly proud of this fact, telling R&T
“It is the oldest supercar still standing, like a boxing champion,” crowed Lock. “It is defying the normal supercar product cycle. Can you imagine if Ferrari were still trying to sell the 360 Modena,”
Somewhere in the darkest recesses of my mind, I can. And I wish they still did. Particularly the 360 Challenge Stradale with its Lexan windows and obnoxiously loud V8 that still sounds like a proper Ferrari. Oh hell, bring back the 355 as well. They are so much nicer than the technically superior but aesthetically overwrought 458 as well as the F430, which will one day be considered a symbol of the excess and vulgarity of the pre-GFC era.
Mercedes-Benz “leaked” (i.e released) photos of the GLA concept ahead of its debut in Shanghai. The GLA is their latest move down the ladder as far as size and price-points go, but it’s also a harbinger of what’s to come from all automakers; another small, car-based crossover. You are going to be seeing plenty of these in the next few years, especially from premium brands that can squeeze lots of profit out of vehicles like these. Hatchbacks, wagons and body-on-frame SUVs are likely to suffer from this segment’s rise in popularity.
If anyone is hoping for a bottom in the European car market, then it’s nowhere to be seen. In the contrary, the decline appears to be accelerating. European passenger car registrations were down 10.2 percent in March, data published by the European manufacturers association ACEA show. That would be a decline for the 18th consecutive month. Read More >
GM published global sales numbers for the first quarter of 2013, and media from The Detroit News to Bloomberg considered it headline material that GM edged out Volkswagen – barely. Who would have thought that the scrappy maker of cars that – if the blogs are to be believed – can’t keep their wires from crossing is breathing down the neck of the formerly mighty General? Read More >
California consumers interested in a Fiat 500e will be getting a sweetheart deal from Fiat; a $199 lease for 36 months with a $999 down payment.
The upcoming Shanghai auto show is expected to be similar to the Geneva Auto Salon in that crossovers, particularly those from premium brands, will be some of the most anticipated reveals at the show. Buyers in global markets can get enough of them, and that situation is no different at home, where the small premium SUV segment is growing much faster than the equivalent sedan segment.
Polk released their list of 10 best-selling nameplates in 2012 – and while the list led to a bit of a spat between Toyota and Ford over who won had the race – the rest of the list gives us a picture of what’s popular around the world. While Bertel is claiming that Toyota came out on top, I am merely reporting the Polk data. Any disputes or accusations pro or anti (insert nationality here) bias can be meted out in the comments. I’ll go grab the popcorn.
The next-generation Mercedes-Benz C-Class, due in 2015, will be getting a full lineup of variants to help it better compete against the BMW 3-Series.
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