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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:

Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

FCA recalling 425,000 Ram 1500, Jeep Compass to fix windshield wipers

Fiat Chrysler is recalling an estimated 425,588 Jeep Compass SUVs and Ram 1500 pickups to fix windshield wipers that may not be adequately secured. The voluntary recall involves Jeep Compass models and Ram 1500 and Ram 1500 Classics from the 2019 and 2020 model years built before March 3 of this year. FCA says it knows of no related injuries or accidents related to the issue, which involves a fastener that is supposed to connect windshield-wiper arms not being secured sufficiently. The new wiper nut was first introduced into production at a Detroit-area plant that builds the Ram 1500 on April 28, 2019. Left unaddressed, it could affect a driver’s visibility and increase the risk of a crash. One owner of a 2019 Compass in Wichita, Kan., filed a complaint with the National Highway Traffic Safety Administration in June 2019 and said the windshield wiper came off during a storm the day the vehicle was purchased. FCA says it will begin contacting affected customers later this month to arrange a free repair. Customers can also contact their dealer if their wipers donÂ’t sufficiently clear their windshield, or if the wiper arms get stuck and donÂ’t return to the rest position when de-activated. Customers can also contact customer service at 1-800-853-1403. The recall also affects an estimated 76,280 vehicles in Canada and 3,280 in Mexico. Recalls Jeep RAM Truck SUV