Volvo is expanding its lineup into small cars teasing two “premium” small car concepts based on a new Compact Modular Architecture. The 40 series lineup will include pure battery electrics as well as a twin engine plug-in hybrid. Production will begin in 2017 and they may appear here in the U.S. the following year. We should learn more about them at a formal unveiling next week.
The Detroit News reports GM will compensate 130,000 buyers of the Chevy Traverse, Buick Enclave and GMC Acadia with price stickers that overstated their fuel economy. Details are expected to be announced next week. GM has said it overstated fuel economy by one to two miles per gallon. It has halted sales for the SUV’s until the proper stickers can be affixed.
GM’s car sharing program will expand to Boston and Washington, D.C. this summer. Customers will have the option of having their wheels delivered to them. The Maven program is now operating in Chicago with pricing starting at $8 an hour. The program is already up and running in New York and Ann Arbor, Michigan and GM claims members have driven more than one million miles.
The 2017 Subaru Forester will carry a starting price of $22,595 with what the maker said will be new driver assist technologies, more interior comfort and improved fuel economy. A redesigned grille and redesigned headlights will set the 2017 apart from current models. The Forester gets improved soundproofing in the form thicker door glass and door seals.
The total balance on auto loans climbed 11.1 percent in the first quarter surpassing the trillion dollar mark for the first time, according to Experian Automotive. Lease loan balances increased 27.5 percent to an all-time high of $76.9 billion. While there were increases in both 30- and 60-day delinquency rates, the overall percentage of total delinquent loans remains relatively low when compared to pre-recession levels. Banks continued to hold the top position in auto loan and lease volumes.