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Automakers need to stop stalking celebrities

Since the invention of the automobile, cars and stars have gone together like paparazzi and the Kardashians. During this season of starlet-adorned award ceremonies, from the Golden Globes through to the Oscars, you will find a lot of car companies all vying to loan out their vehicles to any celebrity with a recognizable face who happens to be heading to a red-carpet award ceremony. There is, however, none so coordinated, consistent and aggressively playing the Fame Game as our friends at Audi. Since the invention of the automobile, cars and stars have gone together like paparazzi and the Kardashians, so by association getting a celeb behind the wheel of your car brand gives it an instant image boost that must make the car more attractive to buyers. Celebrity tales equals dealership sales. That's the logic, anyway. But surely the millions of dollars spent giving free cars to rich stars is a waste of precious and increasingly smaller marketing budgets. It's time to make the car the star, not the other way around. Lets be clear, we are not talking about the very obvious dropping of famous faces into big budget ads. That has its place in the marketing toolbox, but in a very media savvy world it's clear most of us get that play-for-pay concept. Today, the use of just a famous name in an ad yields very little influence on whether you or I will buy that car. No, this awards-ceremony loaner deal is a subtler, but higher risk, idea that if you see a "star" with "their" car in "real life" then surely that adds to the car's appeal. We, the audience, are expected to start salivating like Pavlovian puppies in our desire to have same car in our own, less red-carpeted driveway. Geoff Day has been called the "Pied Piper" of the auto industry, leading auto journalists on wild rides around the globe in his position as former director of communications for Mercedes-Benz USA. Before that, he worked at DaimlerChrysler UK on its PR efforts, and rubbed elbows with the Queen of England in his role at the Buckingham Palace Press Office. His phone is filled with the numbers of the great, the good and the bad. His head is filled with dirty little secrets hiding in many corners of the auto industry. There is no doubt that the publicity that comes with a well placed story, picture or feature can help raise awareness of a product – Oprah proved that with her "Favorite things" – especially if you are launching a line of wrinkle cream or juice bars.

Cars with the worst resale value after 5 years

While the old saying that cars lose a massive chunk of their value as soon as they’re driven off the dealerÂ’s lot might not be entirely true these days, most new vehicles steadily lose value as they age and are used. iSeeCars recently released its latest study on depreciation, finding the models that lose value the fastest, and the list is packed with high-end nameplates. The vehicles that lost value the fastest over five years include: Maserati Quattroporte: 64.5% depreciation BMW 7 Series: 61.8% Maserati Ghibli: 61.3% BMW 5 Series Hybrid: 58.8% Cadillac Escalade ESV: 58.5% BMW X5: 58.2% Infiniti QX80: 58.1% Maserati Levante: 57.8% Jaguar XF: 57.6% Audi A7: 57.2% While sports cars, hybrids, and trucks dominated the list of slowest-depreciating vehicles, luxury brands accounted for all of the top ten fastest-depreciating models. iSeeCars executive analyst Karl Brauer also pointed out EVsÂ’ lack of representation on the slow-depreciating vehicles list, saying that thereÂ’s a disconnect between what automakers are building and what people actually want. The average five-year depreciation for all vehicles in the iSeeCars study was 38.8 percent. ThatÂ’s an almost 11% improvement over 2019Â’s figures, but some vehicle types perform worse than others. EVs depreciated 49.1 percent over five years, while SUVs dropped 41.2%. Trucks only fell 34.8% and hybrids 37.4%. Brauer noted that all vehicles depreciate slower than they did five years ago. Even so, EVs are not the best choice if youÂ’re looking for a vehicle that wonÂ’t feel like a ripoff when itÂ’s time to trade in. On the flip side, used EVs can present a stellar value, saving thousands over their new counterparts. Charging times and availability remain concerns for buyers in large parts of the country, but a heavily depreciated EV could be the used car value youÂ’ve been looking for. The same wisdom applies to used luxury vehicles, as the list above indicates. While new-car buyers shopping for luxury cars are set to see big depreciation during their ownership, that means the used car market is flooded with inexpensive used luxury cars. High repair costs and costly maintenance schedules are real issues that used luxury models face, however. Green Audi BMW Cadillac Infiniti Jaguar Maserati Car Buying Used Car Buying

Daimler, BMW, Audi consortium nabs Nokia maps for $2.72B

A consortium of German automakers made up of Daimler, BMW, and Audi has reportedly banded together to buy Nokia's Here mapping division for the equivalent of about $2.7 billion. The particulars of the deal aren't yet official but could be announced at the end of July. Reuters claims that this info comes from anonymous insiders speaking to Manager Magazin in Germany. It might be too soon, however, to declare a buyer. Reuters also spoke to two other insiders, and they said that no deal has been completed yet. None of the firms involved has officially spoken about the negotiations. Some of the other bidders for the division have reportedly bowed out. Here is a high-definition digital mapping company that controls about 70 percent of the auto market. The company has a fleet of vehicles with cameras and LIDAR (pictured above) to generate all of the necessary information. It also partners with trucking companies to use their GPS data. Nokia started looking for potential buyers for Here earlier this year. Tech giants that reportedly included Uber and Apple were rumored to be interested, while German automakers also teamed up to submit a joint bid in part to protect their access to the maps. On paper, Here is only valued at around $785 million, but a sale in the billions now seems assured. Related Video: News Source: ReutersImage Credit: Nokia Here Earnings/Financials Audi BMW Technology here nokia here