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Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order:

Jeep patent filing in China show plans for 3-row Grand Commander

Back in October, we brought you spy shots of a Jeep crossover mule driving around Fiat-Chrysler's headquarters in Auburn Hills, Mich. They appeared to show a prototype version of the Yuntu Concept, a three-row utility vehicle unveiled at the Shanghai Auto Show and designed for China. Now, new patent filings submitted to China's trademark office and originally reported by Chinese-language website AutoHome appear to back that up. They suggest that Jeep will call the model the Grand Commander, add a seventh seat (the Yuntu had six) and will debut it next April in Beijing. While the Yuntu was a plug-in hybrid, the Grand Commander will reportedly be powered by a 2.0-liter turbocharged gasoline engine that makes 270 horsepower, which sounds like the same four-cylinder engine that powers the 2018 Wrangler. But since Jeep has confirmed a plug-in hybrid version of the Wrangler coming for 2020, it's not unreasonable to expect that configuration could come later for the Grand Commander, too, especially considering the Chinese government's push to ramp up production of electric vehicles. The patent filings also list names for other Jeep models in China, including the concept-sounding names Portal and Hyperspace. The Portal was the name Chrysler gave to a pretty nifty electric minivan concept with double sliding bay doors at this year's CES in Las Vegas.Related Video:

Chrysler reports $166M net income for Q1, down $307M vs. 2012

Preliminary first-quarter results from 2013 have been announced by Chrysler, and the company is reporting a net income of $166 million on revenue of $15.4 billion. Compared to this period last year, net income is down $307 million and revenue has dropped $1 billion.
Chrysler says that its quarter was negatively affected by the costs associated with launching its 2013 Ram Heavy Duty, 2014 Jeep Grand Cherokee and preparation for the return of the all-new 2014 Jeep Cherokee pictured above. The launches should provide a strong second half of 2013, says the automaker. "We remain on track to achieve our business targets, even as the first-quarter results were affected by an aggressive product launch schedule," said Chrysler Group LLC Chairman and CEO Sergio Marchionne.
On a positive note, the automaker says worldwide vehicle sales are up 8 percent from one year ago, a number pushed by a 12 percent bump in U.S. retail sales. In addition, domestic market share has risen slightly, up to 11.4 percent from 11.2 percent last year. Read more in the official statement below.