Uncover the Top 25 Cars That Retain Their Value Best For 5 Years and Avoid the Depreciation Disasters
The pandemic is still affecting the used car market, with production issues from a few years ago causing secondhand vehicle prices to remain high, even for older vehicles. It’s important to note that not all segments of the market are experiencing the same post-pandemic depreciation trends. Before 2020, the average vehicle typically depreciated by approximately 50 percent of its value within the first five years on the road. However, thanks to a variety of factors, the average vehicle now retains about 38.8 percent of its initial price tag in that same time frame, reports Carscoops. Hybrid vehicles (37.4 percent) and trucks (34.8 percent) are depreciating even less than the industry average, according to research from iSeeCars. Meanwhile, SUVs (41.2 percent) are performing worse, and EVs are among the worst-performing vehicles in the industry for depreciation, losing an average of 49.1 percent of their value in their first five years on the road. Click here to see the results of the study.
Subaru Teases Hybrid to Come for 6th-Gen Forester
Subaru Forester owners know what they like, and they don’t want the company to mess with it too much. According to Wards, the Forester has been one of the best-selling Subaru vehicles for nearly 30 years, with more than 2.6 million vehicles sold in the U.S. alone. So, the sixth generation ’25 Forester doesn’t look radically different from the old one, says Bill Stokes, Subaru of America car line planning manager. That said, there are several changes to the new midsize CUV including improved dynamic performance and ride quality, according to the company. “It’s one of the most important vehicles in our lineup and a really iconic vehicle for us,” Stokes says during a media sneak peek of the vehicle ahead of its official global debut at the Los Angeles Auto Show. “So, it's very important that we get this vehicle right.” The Subaru Global Platform for the ’25 Forester has been enhanced with a 10 percent stiffer chassis. A full inner frame construction with stronger welding techniques and additional structural adhesive contribute to better body rigidity and lighter weight. These updates deliver improved dynamic performance, a smoother ride, and a quieter cabin. Click here for the full story.
VinFast Will Pay Customers to Offset Any Defect Repairs
Electric vehicle newcomer VinFast is putting its money where its mouth is when it comes to post-sales service. The Vietnamese automaker is offering VinFast owners cash or service vouchers for unexpected repairs because of factory defects — and the payouts can be significant. According to Automotive News, under the policy, customers can receive $100 for minor problems, $300 for issues that disable the vehicle and $100 per day after a vehicle is in the shop for more than three days. The program is separate from VinFast's 10-year, 120,000-mile warranty, the automaker said. VinFast, which has been making cars in Vietnam since 2019, launched its first vehicle in the U.S. this year. The VF 8 compact crossover is sold direct-to-consumer in California, but VinFast is recruiting dealers for sales outside the Golden State. VinFast said in early November that it's received 70 applications from dealers who want to sell the EV brand. The automaker said it has plans for 125 U.S. third-party sales points by the end of 2024. As a newcomer to the U.S. market, VinFast is highlighting its post-sales policies to attract buyers. The cash payouts are part of that effort. Click here for the full story.
NHTSA Scraps Proposed Vehicle-To-Vehicle Communication Mandate
U.S. auto safety regulators have withdrawn a proposed rule that would have required all new cars and light trucks to be equipped with vehicle-to-vehicle communication systems. In a federal document slated to be published Monday, NHTSA said it was scrapping its 2017 proposal because of the emergence of new technologies such as cellular vehicle-to-everything, or C-V2X, and a Federal Communications Commission decision in 2020 to split a key spectrum band that was long reserved for automakers. According to Automotive News, the proposed rule, which was announced during the last days of the Obama administration, would have created a Federal Motor Vehicle Safety Standard for V2V communications. If finalized, it would have required all new vehicles to have dedicated short-range communication, or DSRC, systems that transmit and receive basic messages about the vehicles' speed, direction, braking and other data. DSRC systems, which are separate but complementary to advanced driver-assistance systems, allow cars to "talk" to other vehicles on the road and to infrastructure equipped with the systems, allowing drivers to "see" around corners. When received in a timely manner, the information could alert drivers to potential crash situations with other vehicles. Click here for the full story.
Will Car Prices Drop in 2024? Here’s What an Auto Expert Predicts
New car prices have been falling for most of 2023, with the average new car selling for $47,936 in October, Kelley Blue Book reported. Overall, new car prices are down 1.4 percent since October 2022 and 3.5 percent since their peak in December 2022, reports Autoblog. Will this downward trend continue into 2024? GOBankingRates spoke with David Meniane, CEO of CarParts.com, to get his predictions. If car prices follow recent trends, they will likely continue to decrease into 2024. However, nothing is guaranteed. “It’s difficult to predict whether the cost of owning or purchasing a car will decrease in the coming year,” Meniane said. “Last month, the average price for a new vehicle was [$47,936] — a [1.4 percent] dip from last year, according to the latest KBB data. This suggests that new car prices might drop in 2024.” One factor that could lead to price drops is an oversupply of new cars. “One recent report estimates that global car production will exceed sales by 6 percent this year, creating a surplus of 5 million vehicles that will receive price cuts to facilitate their sale,” Meniane said. Click here for the full story.
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The 750S Could Be McLaren’s Final Non-Hybrid V8 [Carscoops]
2024 Nissan Armada’s Base Price Rises $4750 to $57,345 [Car and Driver]
Honda Prelude Concept Makes Surprise Appearance at L.A. Auto Show [Autoblog]
Supreme Court To Rule Whether Honking Is Protected Under The First Amendment [Carbuzz]
