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Jaguar likely moving HQ to Britain's most iconic racetrack

Jaguar Land Rover looks increasingly likely to make Britain's iconic Silverstone race track the automaker's new headquarters. There isn't a final deal in place yet, but the British Racing Drivers' Club, which owns the circuit, plans to have the membership vote on whether the negotiations should move forward, according to Autosport. BRDC leaders already presented the plan to members, and they were open to the idea. "The response was favorable so we will now set up an EGM for the members to vote and give the board a mandate to proceed with the deal and continue with the negotiations with JLR," BRDC president Derek Warwick told Autosport. There's no guarantee yet that JLR actually completes the deal. "There's still a lot of work to do to get the deal to where both sides are happy and more importantly what's right for the BRDC and its members." Warwick said. Rumors in early December suggested JLR was among the firms submitting bids to purchase the track, and the automaker allegedly offered 22.7 million pounds ($34.1 million at the time) for it. The company would also reportedly invest nearly $80 million to renovate the site, including adding a museum, experience center, hotel, and offices. The track would still be open for motorsport, too. Silverstone has hosted the Formula One British Grand Prix many times over the decades, and organizers signed a 17-year deal in 2009 to keep things that way well into the future. Series like the FIA World Endurance Championship, MotoGP, and British Touring Car Championship also compete there. Related Video:

Jaguar recalls 7k F-Types for two seperate issues with electrical system

Jaguar is the latest automaker to join in on the recall action from this morning, as the British automaker has announced steps it's taking to remedy two separate problems. The larger of the two recalls deals with an issue related to the seatbelt sensors specifically on the F-Type (we're inquiring with Jaguar if the recall pertains to the coupe, convertible or both models). According to the notice issued by the National Highway Traffic Safety Administration, "the seatbelt harness connector which connects the Seatbelt Tension Sensor (STS) to the Occupant Classification Sensor Control Module (OCSCM) may not have been correctly wired," which could result in the front passenger air bag remaining activated even when a shorter individual (child or adult) occupies that seat. As a result, the British automaker is notifying the owners of such F-Types manufactured between August 31, 2012, and October 22, 2014, to bring their cars in to their local dealership to correct the configuration of the harness connector wire. The second Jaguar recall addresses a wider range of models but a much smaller number of actual vehicles. It affects the F-Type as well as the 2015 XF and XJ sedans, but only 272 of them in the United States. In those affected vehicles, the Front End Accessory Drive belt, Power Assisted Steering pump pulley and the battery positive cable at the alternator may detach. Since those issues could increase the risk of fire or the loss of power steering, Jaguar is calling those few affected units in to dealers to have the requisite components checked, and if necessary, repaired. Details of both recalls can be found in the notices below. Report Receipt Date: NOV 07, 2014 NHTSA Campaign Number: 14V714000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 7,079 Manufacturer: Jaguar Land Rover North America, LLC SUMMARY: Jaguar Land Rover North America LLC (Jaguar) is recalling certain model year 2014-2015 F-TYPE vehicles manufactured August 31, 2012, to October 22, 2014. In the affected vehicles the seatbelt harness connector which connects the Seatbelt Tension Sensor (STS) to the Occupant Classification Sensor Control Module (OCSCM) may not have been correctly wired. The OCSCM senses whether there is an occupant in the front passenger seating position, and the STS senses whether tension on the seatbelt indicates a child restraint is being used in the front passenger seating position.

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