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As US exports top 2 million, is America becoming the world's source of cheap cars?

North American auto production is booming with 2014 figures just shy of the of the 17.3-million vehicle record set in 2000. With more models being built on the continent, even more are being shipped overseas. Factories in the US exported 2.1 million cars last year – the highest number ever. About half of those went to Canada and Mexico, but more than ever have been heading to places like the Middle East and China. The upswing comes in part from from after-effects from the Great Recession, according to The Wall Street Journal. With a weak dollar and lower production costs after the financial crisis, building vehicles in the US was relatively cheaper and more competitive in the world. At the same time buyers around the world are going crazy for crossovers. According to the WSJ, BMW and Mercedes-Benz are already exporting the majority of their US production of these models overseas. Both automakers have also announced investments to expand production further here to send more vehicles abroad. Even Honda has been shipping more models out of the country than it imported here. There is a concern this international strength could start slowing because the dollar is strengthening against other currencies, though it's too early to know what the actual effect of this could be, according to the WSJ. "Of course, we closely watch currency exchange, but we don't make changes in production or allocation based on temporary fluctuations in the exchange rate," Ford North American boss Joe Hinrichs told the newspaper. Related Video: News Source: The Wall Street Journal - sub. req.Image Credit: BMW Plants/Manufacturing BMW Ford Honda Mercedes-Benz exports us auto production

Woman sent to psych ward because police didn't believe she owned a BMW

A woman is suing New York City after she spent eight days in a mental hospital because, she claims, police didn't believe she, a black woman, could own a BMW. Last year, Kamilah Brock was pulled over in Harlem, NY, for having her hands off the wheel, PIX 11 reported. She says she told officers she was dancing while stopped at a red light at the intersection. Police took her into custody and held her for several hours. When Brock was released from the 30th Precinct without any formal charges, police told her she could pick up her car the next day. When she arrived at the impound lot and told officials she was looking for her car - a 2003 BMW 325Cl, she knew there was something wrong as soon as she requested her vehicle. "I just felt like from the moment I said I owned a BMW, I was looked at as a liar," Brock told PIX 11. "They put me in handcuffs and said they just need to put me in handcuffs to take me to my car. And I said OK, whatever it's gonna take to get to my car." Then EMS arrived. She was taken to Harlem Hospital psychiatric ward where she says she was pumped with sedatives and given powerful drugs. Doctors believed she was suffering from bipolar disorder, she claims, and tried for days to get Brock to admit she didn't own the luxury car. They also tried to convince Brock that she wasn't really a banker and President Obama didn't really follow her on Twitter, though both facts are true. The worst part? She was stuck with a $13,000 hospital bill for the pleasure. Brock is currently suing the hospital and several unnamed police officers. Neither the NYPD nor the City's Law Department commented on this story due to ongoing litigation. Government/Legal Weird Car News BMW Ownership Videos lawsuit

Cars with the worst resale value in 2022

Car values are all over the map right now. Used vehicles that were worth a small fortune earlier this year are now coming back to Earth, but the new vehicle supply remains tight. Prices are still elevated overall, but some models have seen more severe price drops. Depreciation strikes almost every model, supply constraint or not, though a few vehicles are leading the way. New research from analytics iSeeCars found that a handful of cars depreciated more than 50 percent over five years, with the BMW 7 Series dropping 56.9 percent and an average price cut of $61,923 over that time. The vehicles with the highest depreciation — or worst resale value — over five years: BMW 7 Series: -56.9% Maserati Ghibli: -56.3% Jaguar XF: -54% Infiniti QX80: -52.6% Cadillac Escalade ESV: 52.3% Mercedes-Benz S-Class: 51.9% Lincoln Navigator: -51.9% Audi A6: -51.5% Volvo S90: -51.4% Ford Expedition: -50.7% iSeeCarsÂ’ research showed that midsize trucks, sports cars, and fuel-efficient vehicles were slowest to depreciate over five years, while itÂ’s clear that luxury brands tend to lose value much faster. As iSeeCarsÂ’ Executive Analyst Karl Brauer explained, used buyers donÂ’t value high-end vehiclesÂ’ features as much as the first owners, so resale values tend to be softer. The tech and options that made the cars so expensive and appealing new donÂ’t add the same value on the used market. Read more: Cars with the best resale value Interestingly, electric vehicles also depreciated quite heavily, though they were just short of the abysmal numbers in luxury segments. The Nissan Leaf depreciated most among EVs, dropping by 49.1 percent. The average EV depreciation is 44.2 percent, with the Tesla Model S and Model X sliding in right under the bar at 43.7 and 38.8 percent, respectively. As iSeeCars notes, itÂ’s important to be vigilant when car shopping and not let your emotions win over reason. Shiny new luxury cars look great in the showroom, but you could end up taking a bath when you try selling them a few years later on. Related video: Audi BMW Cadillac Ford Infiniti Jaguar Lincoln Maserati Mercedes-Benz Volvo Car Buying Used Car Buying Ownership Resale Value depreciation