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Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order:

Weekly Recap: Racing legend Jim Hall explains Chevy's futuristic Chaparral concept

"I said our cars are built to be winners." – Jim Hall Racing legend Jim Hall never thought he'd be a video game consultant, but when Chevrolet asked for his advice to create a futuristic Chaparral for the Vision Gran Turismo series, he was eager to help. He reviewed early sketches and suggested some changes that made it onto the concept, including the addition of a camera that's mounted onto a mast over the cabin to aid the driver. The Chevy Chaparral 2X Vision Gran Turismo concept was revealed this week at the Los Angeles Auto Show and will be part of a downloadable update for PlayStation 3's Gran Turismo 6 in December. Theoretically, at least, it uses a laser-beam propulsion system and an air-powered generator to produce 900 horsepower in the video game. It's capable of sprinting to 60 miles per hour in 1.5 seconds en route to a top speed of 240 mph. Those gaudy performance specs – even in the virtual world – came at Hall's urging. "I said our cars are built to be winners," Hall told Autoblog on the floor of the Los Angeles show. The 79-year-old drove Lotus racecars in Formula One before launching the successful Chaparral Cars in the 1960s. Like his innovative Can-Am racers, the Vision Gran Turismo project has an eye toward the future. It also introduces the iconic Chaparral name to a new generation of fans, and hopefully, Hall says, gets them excited about engineering and design. "It emulates what we did in the '60s," he said. And what they did back then still resonates. Chaparral Racing and Chevy partnered more than 45 years ago for development work on the composite monocoque chassis, lightweight alloy powertrains, automatic gearboxes and active aerodynamics. "He [Hall] walked right back into this and was able to apply thinkings and learnings," said Clay Dean, General Motors executive director of advanced design. The Chevy Chaparral 2X Vision Gran Turismo concept was created at GM's North Hollywood advanced design studio, and it will be on display at the show through November. Other News and Views Sebastian Vettel joins Ferrari team in 2015 Ferrari confirmed that four-time Formula One World Champion Sebastian Vettel will join the Scuderia for the 2015 season, jettisoning Ferrari's current ace, two-time champ Fernando Alonso. Vettel has been F1's most successful driver since Michael Schumacher, though he's struggled to match his previous accomplishments in 2014.

GM cutting back on powertrain warranty citing lack of interest

Generally, when a manufacturer offers a long, high-mileage warranty, it's a sign that it stands behind its products. On top of that, it's generally a selling point for consumers, who can rest easy knowing that any catastrophic failures will be picked up by the manufacturer. Considering those facts, it does seem rather strange that General Motors is slashing the mileage warranty on model year 2016 vehicles from Chevrolet and GMC. Instead of offering consumers a 100,000-mile warranty, GM will now only offer a powertrain warranty up to 60,000 miles. The five-year warranty period, though, remains unchanged. GM will also cut the number of free services being offered to Chevy and GMC owners, as well as Buick drivers, from four to two. "Through research, we have determined that when purchasing a new vehicle, included maintenance and warranty rank low on the list of reasons why consumers consider a particular brand over another," explained a memo sent to dealers by Chevrolet VP Brian Sweeney and his GMC counterpart, Duncan Aldred, and obtained by Automotive News. "As a result, we have benchmarked our competitors, reviewed our current offerings and have concluded the following modifications to align closely with our customers' needs and expectations." While the move might seem odd, Sweeney and Aldred are right – according to Automotive News, Ford, Honda and Toyota each offer a five-year, 60,000-mile powertrain warranty. As for what the money saved by trimming the powertrain warranty will go towards, a GM spokesperson simply told AN that the company will "reinvest the savings we will realize into other retail programs," some of which have been requested by consumers. What are your thoughts? Would a 40,000-mile reduction in a new vehicle's powertrain really turn you off from buying one? Even if it matched its competitors? Is GM better off spending its money elsewhere? Have your say in Comments. Featured Gallery 2016 Chevrolet Equinox View 10 Photos News Source: Automotive News - sub. req.Image Credit: Chevrolet Chevrolet GM GMC Auto Repair Maintenance Ownership warranty