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Daimler wants to cut EV research spending as it preps EQ

Daimler AG is hoping that the legwork it's done preparing its EQ electric-vehicle sub-brand will allow it to slightly reduce annual spending on plug-in vehicle technology. The Mercedes-Benz parent is looking to cut electric-vehicle research-and-development spending to $13.2 billion in 2017 from about $15.4 billion this year, Bloomberg News says, citing comments Daimler CEO Dieter Zetsche made to journalists in Hamburg, Germany, this week. Daimler's annual R&D spending is up from about $11.5 billion in both 2013 and 2014. Like its competitors – for example Audi and BMW and its i sub-brand – Daimler is aiming to have as much as 25 percent of its annual vehicle sales be battery-electric within the next 10 years as part of an effort to meet stricter greenhouse-gas emissions mandates in both Europe and North America. In fact, Mercedes-Benz and Daimler's Smart division collectively have at least 10 electric-vehicle models on their slates during the next few years, though Zetsche said the German automaker will continue to find ways to make its gas- and diesel-powered vehicles more fuel-efficient as well. Daimler introduced a concept version of the Generation EQ electric SUV at the Paris Motor Show late last month. It comes powered by two electric motors and is made up of a combination of steel, aluminum, and carbon fiber, and boasts a 311-mile single-charge range (on the relatively lenient European testing standards). The SUV also has 402 horsepower, and the ability to go from 0 to 60 miles per hour in less than five seconds. Zetsche said at the time that Daimler was prepping powertrains and platforms for electric sedans, wagons, coupes, and roadsters, in addition to SUVs. Additionally, Daimler's Deutsche Accumotive unit is producing the lithium-ion battery packs for the EQs. Featured Gallery Mercedes-Benz Generation EQ Concept: Paris 2016 View 19 Photos News Source: Bloomberg News via Automotive News-sub.req. Green Mercedes-Benz smart Electric eq mercedes eq

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.

Pre-Race notes from the 2015 Nurburgring 24-Hours

Autoblog has come to the German countryside to watch the Nurburgring 24-Hour race, and just one day in, we have to say it's outstanding. Le Mans has been the highlight of our summer racing schedule for the past few years, the 'Ring 24-Hour event being the appetizer we always skipped. Earlier this year, however, while visiting Miami to check out the Cigarette Racing 50 Marauder GT S, we met Scott Preacher. He oversees digital marketing for both Cigarette and AMG during the week, then comes to Germany to compete in the VLN race series on the weekends, driving an Aston Martin Vantage GT4 for Team Mathol. If Le Mans is the Oscars of endurance racing, the Nurburgring 24-Hour race is the Screen Actors Guild award – the one voted on by the actors, for the actors. In this case it's the race by the teams and fans, for the teams and fans, even though the increasing manufacturer presence has altered the team equation. We were told that it wasn't so long ago that true privateers could win the overall, but that's not really the case anymore. Front-running teams have heavy factory involvement – Audi Sport Team Phoenix, for instance, which finished in first and third last year, has its own 'Ring race center and is running the 2016 R8; Aston Martin is represented by Aston Martin Racing and Aston Martin Test Center, and Bentley has a Bentley Motors team and uses HPT to run another team. The fan component hasn't changed, though, and you can't talk about the race for more than 60 seconds before someone brings up the battalions of spectators. Every driver we spoke to cited them as the most incredible part of this race after the track itself. It feels to us like a giant German Sebring, with thousands of people camped out in the ginormous, forested infield, many of whom have been here since Monday erecting their ornate camping compounds. There will be parties everywhere Saturday night, and so much bratwurst on the grill that the drivers can smell it when as they're blasting full speed through Wehrseifen. Even when we drove a Mercedes S63 AMG Coupe on a lap before the race, the fans waved like it was a competition. Scott Preacher's Australian co-driver Robert Thompson said, "You come around a corner and it's like you're driving full speed through the middle of a carnival." The race field itself could also be called a carnival, with an officially invited field of more than 170 cars. Even on a track that's 24.4-km long, that's like racing on the 405 at midday.