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Audi, MIT, GE start cab ridesharing study in New York City

Audi, Massachusetts Institute of Technology's (MIT) and General Electric are getting together to study something that won't likely be thrilling for New York City cab drivers. But there are bigger fish to fry and keeping cabbies happy. The German automaker is working with MIT's Senseable City Lab and GE on a study designed to get a better handle on how ridesharing in the city's cabs could work and how such a practice could cut both emissions and traffic in the largest US city. The program, dubbed HubCab, will track more than 150 million taxi trips in a year. The broader idea is to figure out how ridesharing could cut trips by 40 percent. That's not likely to please the holders of those coveted NYC taxicab medallions but would certainly benefit the city in other ways. "The aim of HubCab is to spark thinking about ways of utilizing publicly available data as we explore new concepts for mobility, especially in crowded urban contexts," said Audi spokesman Brad Stertz. Stertz allowed that there remained many legal and "customer acceptance" issues to address with ridesharing and that there was no timeframe for concluding the study or when the findings would be put into effect via an actual ridesharing system. At least it's a start. Check out Audi's press release below. MIT, Audi launch HubCab project in New York City • HubCab will track more than 150 million taxi trips in NYC to gain insight on ride share scenarios • Insights will inform researchers on how car sharing systems can lower vehicle emissions, reduce congestion, and save money and time • Scientific study conducted at Massachusetts Institute of Technology's Senseable City Lab with support of VW Group's ERL, Audi and GE MIT, in partnership with Audi and GE, launches HubCab – a transportation tracking tool aimed at reducing commuting congestion, decreasing vehicle emissions and dramatically lowering the cost of mobility infrastructure. HubCab tracks more than 150 million taxi rides in New York City over the course of a year. With this information, researchers can identify commuter travel patterns and work to develop a more efficient car share system. MIT researchers say HubCab technology could not only save people money and time, but allow users to better plan their taxi rides around the city, potentially reducing the number of trips by 40%.

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.

Volkswagen finds CO2 'irregularities' for 800k vehicles

The latest issue for Volkswagen affects another 800,000 vehicles, and this time its for irregularities in CO2 emissions certifications. VW estimates this issue could cost the company $2.2 billion to fix. The company officially makes no specific mention of which engines are covered, the models they are in, or even where they are located. VW discovered the situation during its ongoing internal investigation, and, according to the automaker, "it was established that the CO2 levels and thus the fuel consumption figures for some models were set too low during the CO2 certification process." Most of the affected vehicles are diesels, and the company is now reaching out to "the responsible type approval agencies" to figure out the next step. While VW isn't officially confirming which models and engines are involved, Automotive News reports that it affects some 2012 and later VW, Audi, Seat, and Skoda models with the company's 1.4-, 1.6-, and 2.0-liter diesel engines, as well as the 1.4-liter ACT gasoline engine. The issue mainly affects vehicles sold in Europe. "The Board of Management of Volkswagen AG deeply regrets this situation and wishes to underscore its determination to systematically continue along the present path of clarification and transparency," CEO Matthias Muller said in the announcement. Volkswagen Group of America spokesperson Jeannine Ginivan was able to provide some further clarification to Autoblog. "This is not related to US-certified vehicles," she said. Clarification moving forward: internal investigations at Volkswagen identify irregularities in CO2 levels Matthias Muller: "Relentless and comprehensive clarification is our only alternative." Around 800,000 Group vehicles could be affected Initial estimate puts economic risks at approximately 2 billion euros The Volkswagen Group is moving forward with the clarification of the diesel issue: during the course of internal investigations irregularities were found when determining type approval CO2 levels. Based on present knowledge around 800,000 vehicles from the Volkswagen Group could be affected. An initial estimate puts the economic risks at approximately two billion euros. The Board of Management of Volkswagen AG will immediately start a dialog with the responsible type approval agencies regarding the consequences of these findings. This should lead to a reliable assessment of the legal, and the subsequent economic consequences of this not yet fully explained issue.