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These are the cars with the best and worst depreciation after 5 years

The average new vehicle sold in America loses nearly half of its initial value after five years of ownership. No surprise there; we all expect that shiny new car to start depreciating as soon as we drive it off the lot. But some vehicles lose value a lot faster than others. According to data provided by iSeeCars.com, trucks and truck-based sport utility vehicles generally hold their value better than other vehicle types, with the Jeep Wrangler — in both four-door Unlimited and standard two-door styles — and Toyota Tacoma sitting at the head of the pack. The Jeep Wrangler Unlimited's average five-year depreciation of 30.9% equals a loss in value of $12,168. That makes Jeep's four-door off-roader the best overall pick for buyers looking to minimize depreciation. The Toyota Tacoma's 32.4% loss in initial value means it loses just $10,496. The smaller dollar amount — the least amount of money lost after five years — indicates that Tacoma buyers pay less than Wrangler Unlimited buyers, on average, when they initially buy the vehicle. The standard two-door Jeep Wrangler is third on the list, depreciating 32.8% after five years and losing $10,824. Click here for a full list of the top 10 vehicles with the least depreciation over five years. On the other side of the depreciation coin, luxury sedans tend to plummet in value at a much faster rate than other vehicle types. The BMW 7 Series leads the losers with a 72.6% drop in value after five years, which equals an alarming $73,686. BMW's slightly smaller 5 Series is next, depreciating 70.1%, or $47,038, over the same period. Number three on the biggest losers list is the Nissan Leaf, the only electric vehicle to appear in the bottom 10. The electric hatchback matches the 5 Series with a 70.1% drop in value, but since it's a much cheaper vehicle, that percentage equals a much smaller $23,470 loss. Click here for a full list of the top 10 vehicles with the most depreciation over five years.

NHTSA investigating 2015 Jeep Cherokee after new owner's total-loss fire [w/video]

The National Highway Traffic Safety Administration has opened a Preliminary Evaluation into the 2015 model year Jeep Cherokee after a single example caught on fire in California. This investigation will decide the cause, scope and frequency of this possible problem and will decide whether a recall is necessary for 50,415 potentially affected examples. According to Automotive News, the Cherokee's owner only purchased the CUV about two days before the fire, and it had been driven less than 100 miles. The new buyer reported parking the Jeep, and noticed a smell like smoke. Shortly after, the vehicle was consumed in flames. There were no injuries, but much of the incident was captured on video. NHTSA is also trying to decide whether another report is related. In this case, a driver noticed smoke under the hood of a 2015 Cherokee with just 45 miles on it, while driving at 60 miles per hour. According to the complaint to the agency, "the vehicle was not diagnosed or repaired," but FCA was notified. Read below NHTSA's announcement of the Preliminary Evaluation. CBS News 8 - San Diego, CA News Station - KFMB Channel 8 INVESTIGATION Subject : Engine compartment fire Date Investigation Opened: JAN 13, 2015 Date Investigation Closed: Open NHTSA Action Number: PE15003 Component(s): ENGINE Vehicle Make Model Model Year(s) JEEP CHEROKEE 2015 Manufacturer: Chrysler (FCA US LLC) SUMMARY: The Office of Defects Investigation (ODI) has received one complaint (VOQ) of engine compartment fire in model year (MY) 2015 Jeep Cherokee vehicles alleging a severe engine compartment fire incident resulting in a total vehicle loss (VOQ # 10672201). The consumer alleges that the entire vehicle was engulfed in flames approximately 20 feet high within seconds of parking the vehicle. The complaint alleged white smoke coming from under the hood immediately after parking the vehicle and while the ignition is off. In addition, ODI has identified field report data submitted as part of Early Warning Reporting that relate to the alleged defect. A Preliminary Evaluation has been opened to assess the cause, scope and frequency of the alleged defect. The following VOQ numbers are associated with the issues discussed in this opening resume: 10670034, 10672201.

Federal grand jury issues subpoenas to U.S. FCA dealers

Despite an attempt to clarify and backtrack, it seems the investigation into Fiat Chrysler Automobile's false sales reporting is picking up steam. According to Automotive News, FCA dealers and regional offices have received subpoenas ordering them to supply documents and testimony to a grand jury in Detroit. Of course, the dealers are objecting to the request. They claim the subpoenas are too broad and would require them to hand over too much personal information, like personal phone numbers of dealer employees going back years. The group wants to make it clear that FCA has clarified its sales reporting and that the issue is with the manufacturer, not dealers. The dealers say that FCA employee records and testimony should be enough. It's rumored that a dealer group is the one that sparked the investigation in the first place. FCA confirmed on July 18 that it indeed was under investigation by a number of federal agencies. Although they've clarified their position regarding sales reporting, the fraud investigation continues full steam. Related Video: