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Elvis Presley owned this GMC pickup. Now you can, too

Befitting his status as America's first rock star, Elvis Presley lived large. Among his many excesses, Elvis was well known for his prolific new-car purchases. Mostly, it seems the King favored Cadillacs and Lincolns — although, during his Army stint in Europe, he picked up a BMW 507 roadster. Here we have something different from the Elvis Presley canon: a 1967 GMC pickup. And this GMC will be crossing the block at the GAA Classic Cars auction on February 27. This GMC is one of three that Elvis purchased from Guy Caldwell Motors in Senatobia, Mississippi, almost exactly 54 years ago: on February 7, 1967. He bought a red one, a blue one, and this green one for use on his Circle G Ranch in Horn Lake, Mississippi. According to a badge on the glovebox door, this pickup is a GMC Cheyenne Super, which sounds like a fancy-pants trim level, although the truck still looks pretty bare-bones to our eyes. The steel wheels have dog-dish hubcaps, and the grille and bumpers are painted white rather than chrome. It's a standard-bed half-ton pickup and is powered by a six-cylinder engine with a three-on-the-tree column-shift manual transmission. The truck spent just over a year on the ranch before being sold off. It then went through a series of owners and several museum stints. Among the paperwork included with a sale is a letter from Elvis Presley Enterprises confirming that a GMC pickup with this VIN number was bought new by Elvis. It has now been restored, so there shouldn't be a whole lotta shakin' going on. The truck has been repainted green, although the side mirrors are different than what's shown in a vintage photo, and the chrome trim along the sides is missing. More notably, we'd like to see the "Circle G Ranch" logo it once wore on its doors be added. No pre-sale estimate is given. The final hammer price for this GMC will depend on the degree to which bidders are all shook up at the prospect of owning one of the more unusual Elvis Presley vehicles.

GM extends production cuts, affects Cadillacs, Camaro and Acadia

General Motors is extending production cuts at some of its North America factories due to a chip shortage that has roiled the global automotive industry, the U.S. carmaker said on Thursday. The move's impact has been baked into GM's prior forecast that the shortage could shave up to $2 billion off this year's profit. GM's Lansing Grand River assembly in Michigan will extend its downtime through the week of April 26. The plant makes Chevrolet Camaros and Cadillac CT4 and CT5 sedans. It has been out of action since March 15. GM's Spring Hill assembly in Tennessee will shut down for two weeks starting the week of April 12. The plant makes the Cadillac XT5, XT6 and GMC Acadia. The company said it has not taken downtime or reduced shifts at any of its more profitable full-size truck or full-size SUV plants due to the shortage. The news was first reported by CNBC. Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel and Sriraj Kalluvila

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.