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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 may kill 6 car models as it works with UAW to tackle sales slump

The president of the United Auto Workers union said on Thursday the union is talking with General Motors about the potential threat to plants and jobs from slumping U.S. car sales. GM's response will be more trucks and SUVs, and sources say at least six slow-selling car models may be killed off. "We are talking to (GM) right now about the products that they currently have" at underused car plants such as Hamtramck in Michigan and Lordstown in Ohio, and whether they might be replaced with newer, more popular vehicles such as crossovers, Dennis Williams told reporters. "We are tracking it (and) we are addressing it," Williams added. GM has cut shifts at several U.S. plants this year as inventories of unsold cars have ballooned. Industry analysts said more jobs could be at risk as the automaker wrestles with permanently shrinking production of small and midsized sedans. GM is reviewing whether to cancel at least six passenger cars in the U.S. market after 2020, including the Chevrolet Volt hybrid, which could be replaced in 2022 with a new gasoline-electric crossover model, Reuters has learned from people familiar with the plans. Other GM cars at risk include the Buick LaCrosse, Cadillac CT6, Cadillac XTS, Chevrolet Impala and Chevrolet Sonic, sources said. Some analysts have singled out GM's Hamtramck plant in Detroit as one of the most vulnerable because of plummeting car sales. The plant, which opened in 1985, builds four slow-selling models: Buick LaCrosse, Chevrolet Impala, Cadillac CT6 and Chevrolet Volt. In the first half, it built fewer than 35,000 cars, down 32 percent from the same period in 2016, according to suppliers familiar with GM's U.S. production schedule. The typical GM assembly plant builds 200,000-300,000 vehicles a year.COMING ATTRACTIONS: TRUCKS AND SUVS GM must "create some innovative new products" to replace slow-selling sedans "or start closing plants," said Sam Fiorani, vice president of AutoForecast Solutions. The auto maker already has begun to shift future production plans from cars to trucks, according to Morgan Stanley auto analyst John Murphy. He estimates that fewer than 10 percent of the new vehicle models that GM will introduce over the next four years will be passenger cars, with the rest divided among trucks, SUVs and crossovers. GM plans to add production of the new Cadillac XT4 crossover next year to its Malibu sedan plant in Fairfax, Kansas.

GM 8-speed transmission lawsuit granted class action certification

A story on Autoblog about potentially faulty 8-speed automatic transmissions from General Motors in 2019 has, as of the day this was published, 166 comments, mostly from owners of cars and trucks who say they are experiencing "a hesitation, followed by a significant shake, shudder, jerk, clunk, or 'hard shift' when the vehicle's automatic transmission changes gears." At the time, lawyers were seeking statewide classes in at least six states. As of today, the Detroit Free Press reports that a judge has granted class action status to a lawsuit brought by 39 plaintiffs across 26 states covering the transmission issue. The lawsuit specifically applies to vehicles that are equipped with GM's 8L90 or 8L45 8-speed automatic transmissions made between 2015 and March 1, 2019. Both of these transmissions are similar units, the 8L45 being slightly lighter version used in fewer vehicles than the beefier 8L90, and are designed for front-engine, rear- or all-wheel drive applications. The lawsuit alleges that the erratic transmission behavior makes some vehicles unsafe to drive. Ted Leopold, partner at Cohen Milstein and the court-appointed lead counsel for the case, said in a statement, "General Motors knowingly sold over 800,000 eight-speed transmission vehicles, which they knew to be defective for years, and yet made the business decision not to tell its customers before purchase." He added, "Dealers were directed to tell the customers that harsh shifts were ‘normal' or ‘characteristic.Â’ Such decision making is both highly irresponsible and emblematic of what GM believes it can get away with." The vehicles included in the court order with potentially faulty transmissions includes: 2015-2019 Chevrolet Silverado 2017-2019 Chevrolet Colorado 2015-2019 Chevrolet Corvette 2016-2019 Chevrolet Camaro 2015-2019 Cadillac Escalade and Escalade ESV 2016-2019 Cadillac ATS, ATS-V, CTS, CT6, and CTS-V 2015-2019 GMC Sierra, Yukon, Yukon XL, and Yukon Denali XL 2017-2019 GMC Canyon Some additional details of the lawsuit can be found at the Cohen Milstein site, including claims that "since 2015, GM has issued thirteen versions of a “technical service bulletin,” or “TSB,” related to this shifting issue alone." The statement from Cohen Milstein says that a "second action regarding GM vehicles with 8L transmissions is also underway in Battle v. General Motors, LLC, 2:22-cv-108783.