1981 Chevrolet Custom Deluxe "rollin Rebel" # 60 Of 200 on 2040-cars

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GM won't pay owners of recalled cars for lost value

Kenneth Feinberg, the man in charge of the General Motors compensation fund dealing with the its widespread ignition switch woes, has issued an informal, two-letter response to the plaintiffs in more than 70 lawsuits seeking redress for lost resale value of their Cobalts: "No." The cases were recently combined into one, but Feinberg told The Detroit News that the fund will deal "only with death and physical injury claims," and that "perceived diminished value" will get no consideration.
ALG, the firm specializing in establishing residual values, determined that Cobalt owners had lost $300 compared to the segment competition and doesn't envision any long-term effects from the recall situation. Feinberg's statement comes in advance of public details on how the compensation fund will work and adheres to GM's long-held position on the matter. The company has already asked a judge to throw out such suits using the pre-bankruptcy defense, even as it stopped using that defense in cases of injury and death.
With plenty of potential gain from the GM suit, however, don't expect the plaintiffs to give up yet. When Toyota was sued for the same reason during the unintended acceleration debacle, it eventually settled the case for between $1 billion and $1.4 billion just to get it over with. Since the 85 law firms involved in the Toyota litigation took home more than $250 million of that total, we shouldn't expect the attorneys to give up on a GM payout, either.

Steve McQueen's last movie car, now Pawn Stars-owned, up for auction [w/video]

The last car Steve McQueen ever drove in a movie is officially up for auction. The 1951 Chevrolet Styline DeLuxe Convertible you see above is now owned by none other than Rick Harrison of Pawn Stars fame, but once ferried McQueen around the set of his last film, 1980's The Hunter. That flick saw the Bullit star play a bumbling bounty hunter and didn't exactly set the box office on fire. McQueen bought the car after production wrapped, and four years later it sold at his estate sale at the Imperial Palace in Las Vegas.
Flash forward to 2003, and the convertible received a full restoration back to near-stock specifications. Hagerty Insurance estimates the car to be worth around $45,000 without the significant providence. Given its ties to one of film's most popular gearheads, the old Chevrolet could fetch up to 10 times that when it goes under the gavel in Ft Luaderdale, Florida on March 22. You can head over to the Auctions America site for more information. You can also check out the trailer for The Hunter below.

C7 Corvette turbo with 1,000 horsepower promised from Hennessey

If you can't wait for the next-generation Chevrolet Corvette ZR1, Hennessey says they will have you covered. The Texas-based company has announced it will offer a spate of upgrades for the 2014 Corvette ranging from a range of bolt-on options all the way up to a 1,000-horsepower, twin-turbo system. Buyers can start with a cold air intake, cat-back exhaust or stainless steel long-tube headers, but Hennessey says it will also offer up three stages of forced induction mayhem should those bits and baubles not provide enough thrust.
Those choices start with a supercharger system good for up to 700 hp, though Hennessey will gladly ditch the blower in favor of two turbos. Doing so will spin the crank to the tune of 800 horsepower all the way up to a certifiably ludicrous 1,000 ponies. There's no word on how much these tricks will cost you - or when they will be available, as we're guessing they haven't gotten their hands on the car yet - but you can head over to the Hennessey site to drop them a line if you're curious.