1971 Chevrolet Camaro Z28 Rally Sport on 2040-cars

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2015 Chevy Tahoe gets Police Patrol Vehicle treatment

That was fast. Mere days after showing a Police Concept based on the 2015 Tahoe at the SEMA Show, Chevrolet has announced that it will build a PPV model based on the SUV to do battle with the Ford Police Interceptor Utility (Explorer) and Dodge Durango Special Service.
You'll recall that the Tahoe has been police staple for several years, predating both the Explorer and Durango police variants, so the fact that the new model would spawn a police variant is hardly surprising. Like the civilian model, the 2015 PPV benefits from a more efficient 5.3-liter, direct-injection V8 that pumps out 355 horsepower and 383 pound-feet of torque. It also features more high-strength steel, offering better crash protection, on top of optional safety items like lane departure warning, forward collision alert and a Safety Alert Seat.
The press release is rather light on police-specific items, aside from the auxiliary battery, which keeps the myriad of electronics in a modern police car running even when the engine isn't. Lightbars, 17-inch steel wheels on Goodyear Eagle RS-A tires and a push bar round out the mods for the Tahoe PPV. The cabin features a revised center console and room for laptop and other equipment mounts.

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

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.