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Even Saturn prices are leaving the stratosphere as used-car demand soars

Initially marketed as "a different kind of car company," General Motors-owned Saturn unceremoniously closed its doors in early 2010 after years of slumping sales and degradation of the brand. The firm's star is unexpectedly beginning to rise again as demand for used cars balloons in America, and values of used Saturn models are outpacing the industry average. Citing data provided by Car Gurus, The Drive is reporting that Saturn's transaction prices have increased more than any other carmaker's during the past 90 days. They've gone up by 26.15% since March 2021, and they've skyrocketed by 30.24% since June 2020. For context, Subaru posted increases of 12.13% and 20.26%, respectively, and the industry-wide averages stand at 17.11% and 30.23%. Used cars are more expensive across the board, but luxury models generally gained less value than cheaper models built by mainstream brands. In spite of the increase, Saturn's transaction prices remain the lowest on the market, according to the same source. The average sale is pegged at $6,284, versus $23,734 for Toyota and $17,507 for Kia. One factor undoubtedly influencing this difference is that, as we mentioned, the last Saturn was built over a decade ago. There's no such thing as a late-model Saturn, so all of its cars are lugging around 10-plus years of depreciation. If you want to surf this trend, the most expensive Saturn is the Outlook (2007-2010), an SUV that was basically a GMC Acadia with a different badge. It sells for $6,770, on average. At the opposite end of the spectrum, the humble Ion (2003-2007; pictured) trades hands for $4,446; it dented Saturn's average by losing 0.49% of its value during the past 30 days. What this means in the grand scheme of things is open to debate. What's certain is that more motorists are buying used as the ongoing chip shortage creates delivery delays and leaves dealers with low inventory levels, a situation forcing companies to take unprecedented measures. Ford is offering a $1,000 incentive to keep buyers in the fold, for example. Some might end up with their name on a Saturn title simply because it was the first car they stumbled upon. Others, especially drivers 30 and older, might remember the brand's reputation for building value-packed cars that were vaguely interesting.

GM Recalling Another 2.7 Million Vehicles In Five Separate Campaigns

The recalls keep rolling in from General Motors, evidently keen to avoid repeating the mistakes of the ignition-switch debacle and clean house. This time they're all coming at once, with five separate recalls announced together covering approximately 2.7 million vehicles. The largest of the five actions involves over 2.4 million units of the previous-generation Chevrolet Malibu and Malibu Maxx, Pontiac G6 and Saturn Aura in order to fix brake light wiring harness, which have been found to be susceptible to corrosion. The recall is separate from the 56k Aura sedans which GM recently recalled over faulty shift cables, not to mention the previous massive recall of 1.3 million vehicles – some of them the same models – but appears to have resulted from the National Highway Traffic Safety Administration investigation that started with the G6 almost a year ago. The second-largest campaign involves the 2014 Chevy Malibu, specifically those fitted with GM's 2.5-liter engine and stop/start system, approximately 140,000 examples of which has been found to have problematic brakes. The issue does not appear to be connected to the recall of 8k Malibu and Buick LaCrosse sedans (also involving brake woes) which we reported upon last week. Four crashes have been reported in such models, but GM admits it's not yet clear if the problem was a contributing factor in the accidents. A further 112k Corvette models from the 2005-2007 model years are being called in for problems with their low-beam headlamps resulting from a flexing relay control circuit wire that's not meant to bend. GM says it is "aware of several hundred complaints" about this issue, but notes that there have been no reports of related accidents. In addition, over 19k examples of Cadillac CTS from the 2013 and 2014 model years are being recalled over windshield wipers that might not work after a jump start. Finally, GM is also bringing in 477 examples of its 2014 Chevy Silverado, Tahoe and GMC Sierra (though not the Yukon) to fix a problem with a tie rod in its steering rack. As ever, all recall repairs will be performed free of charge, and GM is now estimating that recall-related actions this quarter will result in an estimated $200-million charge against its second-quarter earnings. Read the full announcement from GM below for further details.

A chopped-up General Motors EV1 shell sold for $23,662

Despite not having a VIN, a powertrain, a frame, or any doors, a decrepit General Motors EV1 shell recently sold for $23,662.10 on govdeals.com. Sold by the University of Cincinnati, the car — or what remains of it — is headed to an electric vehicle collection called The Beata Electric Motor Carriage Collection. Technically, the GM EV1 was the first mass-produced and purposed-built electric car in America. When it was released in 1996 for the 1997 model year, however, GM strictly leased the car as part of a "real-world engineering evaluation." The limited production run was meant to test real life with an EV and judge the interest from the public. GM only built 1,117 units, all of which were recalled, and most of them ultimately were sent to the crusher. But a select few were stripped of their powertrains and donated to universities and museums for educational purposes. One of those non-functioning cars made it to the University of Cincinnati in 2008. The post says it "has been in storage since," but it's not clear if the car sat in storage untouched or was stored and used by the university. According to EpiclyEpicEthan1, who posted the sales listing to r/cars, the car was purchased by The Beata Electric Motor Carriage Collection in Colorado. The Beata (derived from the Latin word for blessed) collection is a gathering of '90s OEM electric vehicles and a general EV hub. The website says the vehicles are used for testing, diagnostics, education, events, and overall preservation and documentation. The rare and niche collection also includes a 1993 Dodge/Chrysler TEVan, a 1997 Honda EV Plus, a 1999 Dodge/Chrysler EPIC EV, a 1998 Ford Ranger EV, a 2002 Toyota RAV4 EV LongRanger III, a Tesla Roadster, a 1998 Nissan Altra EV, a 1998 Chevrolet S-10 EV, a 2011 Nissan Leaf, and a 2012 Tesla Model S. Beata also has several other projects under construction such as the 2000 Toyota RXT-G Prototype, a 1997 RAV4 coupe EV prototype, the 1995 AC Propulsion eCivic EV, a 1995 ACP RXT-G Prototype LongRanger II, a 1995 ACP RXT-G Prototype LongRanger I, and a GM EV1. Beata acts as a resource for EV1 owners and helps place parts it finds and doesn't need. The parts it does need are put into building a working EV1. Beata's current EV1, which is 80 percent complete, is made up from more than 50 different parts sources, including from all three versions of the EV1, the 1994 LPF4 PreView "Impact" series, the 1997 EV1, and the 1999 EV1.