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Jaguar Land Rover may buy Silverstone racetrack for new HQ

Jaguar Land Rover might add another chapter to its venerable motorsports legacy by purchasing the revered UK racetrack Silverstone to use as its new company headquarters. JLR could reportedly offer 22.7 million pounds ($34.1 million at current rates) to buy the circuit, according to Automotive News Europe, which cites several British media sources. The British automaker would then invest the equivalent of $78 million to turn the historic track into a celebration of the brand, including a museum, experience center, and hotel. The company would also construct space for its marketing team and engineers, Automotive News Europe reports. Motorsports would still continue there, too, which means the course's Formula One legacy is safe. Neither JLR nor the British Racing Drivers' Club, which leases the track, have confirmed the rumors. The BRDC only suggested that it received several confidential offers to purchase the circuit. Silverstone has a motorsports history that goes back to the late 1940s and is often the home to the Formula One British Grand Prix. The track's organizers have a long-term deal to continue hosting the F1 race, too. Today, the course also features major events from MotoGP and the FIA World Endurance Championship. In November, Jaguar released a video that celebrated some of its legacy at Silverstone by bringing the modern XJR and Le Mans-winning XJ-R9 LM at the track. If the company's purchase happens, you can expect to see a lot more Jags and probably some Land Rovers lapping the course. Related Video:

New Jaguar F-Type to launch — maybe literally — with Hot Wheels' help

An updated and redesigned Jaguar F-Type is going to be revealed Dec. 2, which is less than a week away at this point. The info comes to us via a tweet from Jaguar, teasing out the reveal with a video. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Update: For a split second, the new F-Type appears to be flashed up onto the screen. We screenshot the video and pasted the photo down below. The side profile is similar to the previous F-Type, which comes as no surprise to us after seeing the spy shots. We can see the red LED taillight and a hint of the headlight design from the photo, too. The most intriguing part of this tweet is at the end, where Jaguar says it’s going to reveal the F-Type in partnership with Hot Wheels. Jaguar and Hot Wheels are not the most obvious of pairings at first, but both have a penchant for theatrics and stunts. Jaguar launched the tiny E-Pace with a barrel roll, completing a 270-degree corkscrew jump and launching it through 50 feet of open air. Nobody was expecting that. WeÂ’re not sure what to expect from the F-Type launch event, but the teaser video shows a Hot Wheels track with a loop. Will Jaguar try and top themselves? WeÂ’re not sure, but itÂ’s worth a watch on Dec. 2 to find out. As for what the actual car will be like, weÂ’ve seen several sets of spy shots (above). The most recent set places the Jaguar on the Nurburgring for track testing. Jaguar hasnÂ’t messed with the F-TypeÂ’s design much since it launched earlier this decade, but thatÂ’s no complaint. Even today, the F-Type is one of the best looking sports cars on sale. And even though Ian Callum isnÂ’t around anymore, weÂ’re sure he had a hand in this redesign. Expect a new interior, updated powertrains and more performance from the F-Type in its updated form next week. 

Cars with the worst resale value in 2022

Car values are all over the map right now. Used vehicles that were worth a small fortune earlier this year are now coming back to Earth, but the new vehicle supply remains tight. Prices are still elevated overall, but some models have seen more severe price drops. Depreciation strikes almost every model, supply constraint or not, though a few vehicles are leading the way. New research from analytics iSeeCars found that a handful of cars depreciated more than 50 percent over five years, with the BMW 7 Series dropping 56.9 percent and an average price cut of $61,923 over that time. The vehicles with the highest depreciation — or worst resale value — over five years: BMW 7 Series: -56.9% Maserati Ghibli: -56.3% Jaguar XF: -54% Infiniti QX80: -52.6% Cadillac Escalade ESV: 52.3% Mercedes-Benz S-Class: 51.9% Lincoln Navigator: -51.9% Audi A6: -51.5% Volvo S90: -51.4% Ford Expedition: -50.7% iSeeCarsÂ’ research showed that midsize trucks, sports cars, and fuel-efficient vehicles were slowest to depreciate over five years, while itÂ’s clear that luxury brands tend to lose value much faster. As iSeeCarsÂ’ Executive Analyst Karl Brauer explained, used buyers donÂ’t value high-end vehiclesÂ’ features as much as the first owners, so resale values tend to be softer. The tech and options that made the cars so expensive and appealing new donÂ’t add the same value on the used market. Read more: Cars with the best resale value Interestingly, electric vehicles also depreciated quite heavily, though they were just short of the abysmal numbers in luxury segments. The Nissan Leaf depreciated most among EVs, dropping by 49.1 percent. The average EV depreciation is 44.2 percent, with the Tesla Model S and Model X sliding in right under the bar at 43.7 and 38.8 percent, respectively. As iSeeCars notes, itÂ’s important to be vigilant when car shopping and not let your emotions win over reason. Shiny new luxury cars look great in the showroom, but you could end up taking a bath when you try selling them a few years later on. Related video: Audi BMW Cadillac Ford Infiniti Jaguar Lincoln Maserati Mercedes-Benz Volvo Car Buying Used Car Buying Ownership Resale Value depreciation