Latest news with #I-PACE
Yahoo
28-06-2025
- Automotive
- Yahoo
5 Cars With Trade-In Values So Low That They're Not Worth Selling
Trading in a car can seem like the easiest way to upgrade your ride, but for some models, the dealer's offer will feel like an insult. In 2025, several vehicles are facing such steep depreciation and low demand that their trade-in values are shockingly low. Lauren Fix, automotive expert at Car Coach Reports, explained that high depreciation, oversupply and expensive maintenance are the main reasons these cars are so undervalued. Find Out: Read Next: Dealers also factor in brand perception and the cost of reconditioning, which can slash offers even further. For many owners, the trade-in value might be lower than what they could get from a private sale or even scrapping the car. Here are five cars with trade-in values so low that selling them to a dealer just does not make financial sense for most owners. Also consider these five cars are worth trading in for a newer model. The Jaguar I-PACE, an electric SUV launched with high hopes, now leads the pack in five-year depreciation, losing about 72.2% of its value, according to iSeeCars. Originally priced around $75,000, a 2020 model in average condition might only fetch $20,000 to $25,000 as a trade-in. Fix said this is due to rapid electric vehicle (EV) depreciation and low demand for Jaguar's aging design. Dealers hesitate to offer more because of high battery replacement costs and the brand's reputation for reliability issues. With a saturated used EV market and newer, more advanced electric models, the I-PACE's trade-in value is so low that owners should explore private sales or tax-deductible donations. Trending Now: The Maserati Levante, a luxury SUV, suffers from one of the highest depreciation rates in its class. According to CarEdge, it lost about 74% of its value after five years. Dealers are wary of the Levante's expensive maintenance and repairs, as well as Maserati's spotty reliability record, which further depresses its resale value. Fix said a 2019 Levante with an MSRP of $80,000 may only sell for $25,000 to $30,000, especially if it has considerable miles. For most owners, the trade-in offer will feel like a fraction of what the car once cost, making private sale, donation or keeping the car for personal use a smarter choice. The Nissan Leaf, once a pioneer in the electric vehicle market, now faces rapid depreciation due to outdated battery technology and limited range. According to CarEdge, the Nissan Leaf will 'depreciate 62% after 5 years' and have a '5-year resale value of $13,308.' The market for used Leafs is crowded, and dealers know that buyers prefer newer EVs with longer ranges, so they offer less to minimize their risk. For example, Fix said a 2020 model, initially $35,000, may only receive $10,000 to $12,000 in trade-in, a 60% loss in five years. Owners may find that selling privately or donating the car for a tax deduction will yield better value than accepting a dealer's lowball offer. The Chrysler 300, a full-size sedan once popular for its bold styling, now suffers from low demand and a poor resale reputation. According to iSeeCars, a new Chrysler 300 depreciates 52.1% after five years, resulting in a typical resale value of $16,422. Fix said excessive mileage (over 100,000 miles) or accident history can further reduce trade-in bids by 10 to 20%, frequently below private sale or trash value. Dealers are reluctant to pay more for a car that is difficult to resell, especially when factoring in reconditioning costs and the risk of sitting on unsold inventory. For many Chrysler 300 owners, trading in will not make sense financially, and exploring private sale options or keeping the car longer may be wiser. Auto mechanic and JustAnswer expert Chris Pyle suggests keeping the car if you need a spare or sell it online or from your front yard, rather than going to the dealership. According to Fix, Dodge Hornet was the slowest-selling new automobile, with a 299-day supply on dealer lots as of late 2024. She explains that an oversupply of slow-selling models, forces dealers to offer low trade-in values to clear lots. Moreover, CarEdge projects a Dodge Hornet will depreciate 65% after five years, with a three-year resale value of about $15,600, confirming the steep loss in value. Recent trade-in offers on CarMax show 2023 Dodge Hornets ranging from $21,000 to $24,000 for low-mileage vehicles. This means for higher-mileage or less desirable trims, trade-in values of $12,000 to $14,000 for a three-year-old model are realistic. Owners looking to maximize value should consider selling privately, donating for a tax deduction or holding onto the car until market conditions improve. Editor's note: Photos are for representational purposes only. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years 6 Hybrid Vehicles To Stay Away From in Retirement This article originally appeared on 5 Cars With Trade-In Values So Low That They're Not Worth Selling
Digital Trends
06-05-2025
- Automotive
- Digital Trends
Waymo lays groundwork for robotaxi revolution
In recent years, Waymo has been edging toward its long-held goal of revolutionizing urban transportation by deploying a fully autonomous, scalable, and sustainable ride-hailing service. The Alphabet-owned company has just taken another step in that direction with the opening of a new vehicle factory in Metro Phoenix, Arizona, in partnership with automaker Magna. Recommended Videos The new 239,000-square-foot site will build thousands of Jaguar I-PACEs equipped with Waymo's fully autonomous technology, Waymo said in a post on its website on Monday. The company said that it now has more than 1,500 autonomous vehicles operating across San Francisco, Los Angeles, Phoenix, and Austin, providing more than 250,000 paid trips to users. Waymo also has plans to launch its service in Atlanta, Miami, and Washington, D.C. next year. Those new cities will likely get many of the more than 2,000 fully autonomous I-PACE vehicles that come off the production line in 2026. 'We're proud to bring this technology — once thought to be the stuff of science fiction — to more and more riders across this country,' Waymo said. Alphabet boss Sundar Pichai recently suggested that it was considering offering its autonomous vehicles for personal ownership, and also discussing the idea with Toyota, though with regulatory hurdles still high for fully driverless vehicles, such a scenario is likely to be a ways off. Waymo appears to be performing well in what is a highly competitive sector. A number of rivals — General Motors-owned Cruise and Ford/VW-backed Argo AI among them — have found the endeavor of building out the technology and related services a challenge too far, forcing their closures in 2024 and 2022, respectively. But it hasn't all been smooth sailing for Waymo, either, with various technology-related incidents on public roads prompting increased scrutiny from regulators. While many studies have suggested that Waymo's autonomous vehicles are safer than human drivers, recent research by Professor Missy Cummings, director of George Mason University's Autonomy and Robotics Center, found that while Waymo performs better than human rideshare drivers, its crash rate — about 1,000 per 100 million miles — is still worse than the average human driver. However, Cummings emphasized that comparing autonomous-vehicle safety to human drivers is scientifically problematic because humans collectively drive trillions of miles annually, while driverless cars have only logged tens of millions, making current comparisons statistically invalid. Autonomous-car technology has made astonishing improvements in recent years, but its limited ability to handle all types of traffic scenarios and weather conditions means it will likely be some time before regulators grant companies like Waymo broader operational freedoms. Please enable Javascript to view this content
Yahoo
13-04-2025
- Automotive
- Yahoo
9 Used Luxury Cars That Are a Bad Investment for the Middle Class
Used luxury cars might seem like a smart investment. Sleek designs, premium interiors, powerful engines and prestigious badges can create the illusion that you're buying appreciating assets. And for a handful of rare or collectible luxury vehicles, that's exactly what happens. For You: Check Out: However, for most luxury cars, reality tells a different story. A recent study from iSeeCars found that many luxury vehicles experience some of the steepest depreciation rates on the market, draining your money through brutal maintenance costs and reliability headaches. Here are a few used luxury cars the middle class should steer clear of, based on the latest iSeeCars data. The Jaguar I-PACE leads the list of worst depreciators, losing a staggering 72.2% of its value in just five years, translating to roughly $51,953 wiped away. Despite its cutting-edge design, the I-PACE's rapid depreciation and potential out-of-warranty repair costs make it a risky choice for middle-class buyers. Read Next: The BMW 7 Series promises luxury, but delivers a sharp drop in value — about 67.1% gone in five years, costing you roughly $65,249. Earlier models were also infamous for high-pressure fuel pump failures, causing pricey repairs and widespread recalls. The Model S electrified the luxury market, but its depreciation rate might shock you at around 65.2% lost within five years, about $52,165 in value. Though electric cars have fewer moving parts, out-of-warranty battery replacements and specialized repairs can quickly add up. This full-size luxury SUV loses about 65% of its value in five years, shedding more than $53,500. High fuel costs and maintenance expenses further erode its appeal for buyers who want to save money. The Ghibli offers Italian style and speed, but it comes at a steep price. It loses nearly 64.7% of its value in five years, wiping out over $70,000. Add expensive maintenance and reliability concerns and it's clear this Maserati is better admired than owned. Another Maserati makes the list. The Levante SUV drops around 63.7% of its value within five years, equating to a loss of nearly $65,000. Coupled with high maintenance and repair costs, it's a luxury SUV that can quickly become a financial burden. The Range Rover radiates prestige and adventure, but loses around 62.9% of its original value within five years, according to iSeeCars. Frequent engine, suspension and electrical issues mean costly repairs are almost guaranteed. Audi's flagship sedan boasts tech-rich features and elegant styling, but it depreciates 62.7% in five years, losing about $57,724. Complicated electronics and delicate air suspension systems make it an expensive car to maintain once out of warranty. The Escalade ESV delivers bold presence, but its 61% depreciation rate after five years — a loss of nearly $57,000 — quickly cuts its value. High running costs, from fuel to repairs, make this SUV a luxury best avoided if you're watching your wallet. While used luxury cars can be tempting, the specific models we've highlighted often bring steep depreciation, high repair costs and financial strain that most middle-class buyers can't easily absorb. When it comes to these vehicles, steering clear is the smarter financial move. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for RetireesHow Far $750K Plus Social Security Goes in Retirement in Every US Region7 Overpriced Grocery Items Frugal People Should Quit Buying in 202525 Places To Buy a Home If You Want It To Gain Value This article originally appeared on 9 Used Luxury Cars That Are a Bad Investment for the Middle Class
Yahoo
28-03-2025
- Automotive
- Yahoo
Waymo Eyes Three New US Cities for Autonomous Robotaxi Launch in the Coming Months
Waymo, an autonomous rideshare service backed by Google's parent company, Alphabet Inc., has announced in a press release that it will launch operations in Atlanta, Miami, and Washington D.C. Atlanta's launch will begin in early 2025, with Miami and Washington D.C. services kicking off in 2026. Specific dates for these releases haven't yet been disclosed. The robotaxi organization currently offers rides in San Francisco, Phoenix, Los Angeles, and Austin. Given its relatively early development stage, the use of self-driving technology on public roads has been controversial, but that hasn't stopped Waymo from receiving backing from key voices. 'Waymo has worked with GHSA and our first responder network as they've expanded their service, always putting safety first. As someone who walks to work almost every day, I'm excited to share the road with Waymo in Washington, D.C.,' Jonathan Adkins, CEO of Governors Highway Safety Association, said in Waymo press release. The autonomous rideshare service has logged over 50 million miles through December 2024, with a Waymo post on X, formerly Twitter, stating that the company found their self-driving technology had 83% fewer airbag deployment crashes, 81% fewer injury-causing crashes, and 64% fewer police-reported crashes compared to a human driving the same distance in San Francisco and Phoenix. Still, Waymo's technology isn't without its flaws. The rideshare company's autonomous fleet collected 589 tickets last year in San Francisco, equating to $65,065 in fines. Waymo commonly received tickets for dropping passengers off in commercial loading zones, blocking traffic, failing to observe street cleaning parking restrictions, and double-parking. The company noted its vehicles would sometimes drop passengers in commercial loading zones when alternative drop-off areas were congested main roads or a spot too far from the rider's destination. Waymo also added that some citations also occurred during brief parking when an SUV was too far from its facility. While 589 tickets aren't nothing, they're a drop in the bucket when it comes to San Francisco's traffic citations, representing less than 1% of total tickets. Waymo has used vehicles like Chrysler's Hybrid Pacifica minivan in the past, but as of now, the company exclusively utilizes Jaguar's all-electric I-PACE SUV and is working on diversifying its fleet. Cities like Washington D.C. will serve as another key challenge for Waymo, as The Nation's Capital was rated as having the ninth-most traffic out of any US city for 2024, according to INRIX. Waymo launched its first international test in Tokyo, Japan, in December 2024, foreshadowing a more prominent global presence. The rideshare service's Level 4 self-driving technology remains ahead of Tesla's autonomous programs, which operate at Level 2. Level 4 indicates that Waymo SUVs can complete all driving tasks within specific conditions, which includes geofencing or pre-defined areas in the company's case.
Yahoo
21-03-2025
- Automotive
- Yahoo
US' Leading Autonomous Vehicle Company Collected 589 Parking Tickets Last Year in San Francisco
Waymo, the US' leading self-driving taxi company that's backed by Google's parent company, Alphabet Inc, collected almost 600 parking tickets last year in San Francisco, the city where the rideshare service began testing in 2021. Tickets for Waymo's fleet, which is comprised of 300 vehicles, equated to $65,065. Comparatively, Los Angeles tagged Waymo with 75 tickets last year, where the company has 100 deployed vehicles, but its service was launched in November of 2024. Waymo's fleet is fully electric and primarily uses Jaguar's I-PACE SUV. The autonomous rideshare company has attributed its San Francisco tickets to vehicles dropping off passengers in commercial loading zones when alternative drop-off areas were congested main roads or a spot too far from the rider's destination, along with brief parking between trips when cars were too far from Waymo's facility. Waymo SUVs have also been cited for blocking traffic and ignoring street cleaning schedules. Waymo spokesman Ethan Teicher told The Washington Post that safety is the rideshare company's highest priority 'both for people who choose to ride with us and with whom we share the streets.' Teicher added that Waymo cars are designed 'to take the safest action available during the few minutes we are picking up or dropping off riders, which is when many of these parking citations occurred.' Sterling Haywood, who has been a San Francisco parking control officer for 17 years, told The Washington Post: 'I gave it [Waymo vehicle] the same courtesy I would give if there was somebody in the car.' Haywood described this courtesy as honking twice to warn the Waymo taxi that it was parked in a street cleaning zone during enforcement hours in San Francisco's Mission District. After the Waymo vehicle didn't move, he placed a $96 dollar ticket on its window. Waymo has received the most tickets for street cleaning violations at 138 citations, however, it's important to note that Waymo's 589 tickets last year in San Francisco represent less than 1% of the city's 1.2 million issued tickets during 2024. In addition to Los Angeles, Waymo operates in Phoenix, Arizona, and Austin, Texas. Waymo operates 24/7 across San Francisco, so accounting for less than 1% of the city's tickets during 2024 can be viewed as quite impressive. The organization's autonomous technology is also relatively early in its development, launching in San Francisco in 2021. Unlike General Motors-backed Cruise's self-driving vehicles, which hit San Francisco streets in 2022, Waymo is still operating its fleet and growing. Cruise suspended its operations in October 2023 after a series of incidents, including dragging a pedestrian, which occurred during the same month. General Motors had invested $10 billion into Cruise by the time the company shut down. While it would be ideal for Waymo SUVs to avoid tickets altogether during instances like parking in street cleaning zones during enforcement hours, the rideshare service would likely receive more criticism if its fleet dropped off pedestrians in dangerous areas to avoid citations.
