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Cars with the worst resale value after 5 years

While the old saying that cars lose a massive chunk of their value as soon as they’re driven off the dealerÂ’s lot might not be entirely true these days, most new vehicles steadily lose value as they age and are used. iSeeCars recently released its latest study on depreciation, finding the models that lose value the fastest, and the list is packed with high-end nameplates. The vehicles that lost value the fastest over five years include: Maserati Quattroporte: 64.5% depreciation BMW 7 Series: 61.8% Maserati Ghibli: 61.3% BMW 5 Series Hybrid: 58.8% Cadillac Escalade ESV: 58.5% BMW X5: 58.2% Infiniti QX80: 58.1% Maserati Levante: 57.8% Jaguar XF: 57.6% Audi A7: 57.2% While sports cars, hybrids, and trucks dominated the list of slowest-depreciating vehicles, luxury brands accounted for all of the top ten fastest-depreciating models. iSeeCars executive analyst Karl Brauer also pointed out EVsÂ’ lack of representation on the slow-depreciating vehicles list, saying that thereÂ’s a disconnect between what automakers are building and what people actually want. The average five-year depreciation for all vehicles in the iSeeCars study was 38.8 percent. ThatÂ’s an almost 11% improvement over 2019Â’s figures, but some vehicle types perform worse than others. EVs depreciated 49.1 percent over five years, while SUVs dropped 41.2%. Trucks only fell 34.8% and hybrids 37.4%. Brauer noted that all vehicles depreciate slower than they did five years ago. Even so, EVs are not the best choice if youÂ’re looking for a vehicle that wonÂ’t feel like a ripoff when itÂ’s time to trade in. On the flip side, used EVs can present a stellar value, saving thousands over their new counterparts. Charging times and availability remain concerns for buyers in large parts of the country, but a heavily depreciated EV could be the used car value youÂ’ve been looking for. The same wisdom applies to used luxury vehicles, as the list above indicates. While new-car buyers shopping for luxury cars are set to see big depreciation during their ownership, that means the used car market is flooded with inexpensive used luxury cars. High repair costs and costly maintenance schedules are real issues that used luxury models face, however. Green Audi BMW Cadillac Infiniti Jaguar Maserati Car Buying Used Car Buying

2015 Chevy Silverado, GMC Sierra recalled for steering issues

DETROIT — General Motors Co is recalling more than 1 million pickup trucks and sport utility vehicles in the United States due to issues with a temporary loss of power steering, the National Highway Traffic Safety Administration said. The recall is for 2015 models. They are: the Chevy Silverado 1500, Suburban and Tahoe, GMC Sierra 1500, Yukon and Yukon XL and Cadillac Escalade. The problem may cause difficulty steering the vehicle, especially at low speeds, increasing the risk of a crash, the auto safety regulator said in a document dated Sept. 12. The document did not highlight any reports of accidents and injuries, because of the power steering issue. GM dealers will update the power steering module software, free of charge for owners of the affected vehicles. In 2014, the No.1 U.S. automaker had recalled nearly 800,000 pickup trucks worldwide because of the same problem. GM did not immediately respond to a request for comment.Related Video:

Cadillac executive appointments have global flair

Cadillac has rearranged its executive suite in order to take full advantage of its sales momentum. Don Butler is moving from his role as US VP of marketing to a newly created position with the title VP of global Cadillac strategic development. It will be his job to "drive the next phase of Cadillac growth internationally," planning strategy and developing new markets.
He will be replaced by Steve Majoros, an exec poached from Chevrolet's ad agency of record, Campbell Ewald. Majoros, who has the Chevrolet campaigns "Like a Rock" and "American Revolution" on his resume, will oversee Cadillac's US and international marketing.
Another component in the brand's renewed global focus includes conducting an ad agency review. Announced last month, Fallon Worldwide remains Cadillac's agency of record, but others, said to include Campbell Ewald, will be bidding to make the creative that helps Cadillac expand sales percentages by triple digits here and in China. Scroll down below for the official press release.