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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

GM CEO to meet with U.S. lawmakers over job cuts

WASHINGTON — General Motors Co Chief Executive Mary Barra plans to visit Capitol Hill next week to discuss the company's plans to halt production at five plants in North America next year and cut up to 15,000 jobs, two congressional aides said on Friday. GM has come under harsh criticism from lawmakers from both major political parties, and from President Donald Trump, since Monday when it announced the biggest restructuring for the U.S. No. 1 carmaker since its bankruptcy a decade ago. Barra is expected to meet with lawmakers from Michigan and Ohio, where GM plans to shutter three plants, as well as senior leaders in Congress. GM did not immediately comment. Barra has been calling lawmakers this week to explain the decision to end production. Trump has threatened to revoke subsidies for GM. The Detroit automaker plans to halt production next year at three assembly plants: the Lordstown small-car factory near Youngstown, Ohio; the Detroit-Hamtramck complex in Detroit; and the Oshawa, Ontario, assembly complex near Toronto. It will also stop building several models now assembled at those plants, including the Chevrolet Cruze, the Chevrolet Volt hybrid, the Cadillac CT6 and the Buick LaCrosse. Additionally, GM plans to shutter the Warren transmission plant outside Detroit and a plant that makes electric motors and drivetrains outside Baltimore, Maryland. The Cruze compact car will be discontinued in the U.S. market in 2019, although GM may continue building it in Mexico for other markets, Barra said. Reporting by David Shepardson. Related Video:

Cadillac electric crossover will be revealed in April

Cadillac will unveil a midsize electric crossover in April, brand President Steve Carlisle told dealers at the National Auto Dealer Association (NADA) Convention Monday. The new crossover will be Cadillac's first all-electric vehicle.  The New York Auto Show is April 10-19, with press days April 8-9. It's unclear whether the Cadillac reveal would happen there, or as a standalone event before or after. Per Automotive News, Carlisle told the assembled representatives that Cadillac has big plans for transitioning from an all internal-combustion lineup to one anchored in electric cars.  "We enter this decade as an internal combustion engine brand. We want to position ourselves to exit as a battery-electric brand, so we have to manage both at the same time," he said.  Early last year, Cadillac teased the new midsized crossover, telling us to expect it to come in two- and four-wheel-drive flavors and to be offered as a global model. The last we heard of GM's plans to electrify its luxury brand came in December, when Carlisle laid out an aggressive plan to switch over its entire lineup by 2030.  Just a week later, parent company GM canceled its plans to appear at CES earlier this year because the model it planned to showcase was not ready to be unveiled due to delays introduced by the UAW strike last fall.  Not even two weeks after the tech show concluded, GM introduced of the self-driving Cruise Origin at a private event in San Francisco, prompting speculation that it was the original subject of GM's CES plans. Whether the Cruise Origin or Cadillac's new mystery midsizer was to bow at CES, there's only one left to reveal now.  Cadillac has been keeping news of its future EV offerings largely on the back burner. The brand has been busy effectively re-launching its entire lineup — an effort that will culminate with the rollout of the new Escalade SUV later this year.  In Carlisle's NADA remarks, he indicated that Cadillac dealers will learn more about the company's plans at a meeting in September.    Green Cadillac GM Crossover Concept Cars Electric Future Vehicles Luxury