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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.

Chevy murders out Trax crossover with new Midnight Edition

Leaning towards a new Chevy Trax, but think it needs a little bit more attitude? Chevy has you covered with the release of the new Midnight Edition. It's based on the Bowtie brand's smallest crossover, but injects some extra style with its murdered-out treatment. The new Chevy Trax Midnight Edition is based on the top LTZ trim, and upgrades with black wheels, bezels, molding, door handles, and more. Inside, the cabin is adorned with gray-accented seats and gray-piped floor mats. It isn't a huge transformation, but may be just the dose of attitude that Chevy's little crossover needs. Otherwise it's the same Trax introduced a year ago, and comes equipped with a 1.4-liter turbo four good for 138 horsepower and 148 pound-feet of torque. It's available in either front- or all-wheel drive, and will return a claimed 34 miles per gallon on the highway in the former setup. The Midnight package adds an extra $500 to the $26,125 base MSRP on a new Trax LTZ. Related Video: Chevrolet Trax Crosses to the Dark Side New Midnight Edition adds distinction to small SUV 2015-12-27 DETROIT – Chevrolet today announced the 2016 Trax Midnight Edition – a blacked-out styling statement for the small SUV, offering customers a bold choice and adding to the momentum of the brand's record 2015 crossover sales. Based on the LTZ trim, the Midnight Edition features black wheels, bezels, beltline molding and door handles, along with a black rear license plate applique. Inside, the seats are trimmed with gray accents and the floor mats feature gray piping. "Introduced just a year ago, the Trax has quickly become an important vehicle for Chevrolet, bringing in new, younger and more female buyers to the brand," said Betsy Flegg, senior marketing manager, Chevrolet Crossovers. "The small SUV segment is the fastest growing in the industry and models such as the new Trax Midnight Edition provides customers an expressive option." Trax sales were 57,707 for the first 11 months of 2015, placing it second in the segment, with almost 20-percent market share. Chevrolet crossover sales were up 35 percent for the same period. Fusing small-car agility and utility convenience of an SUV, Trax offers up to 48.4 cubic feet of cargo space. A 1.4L turbocharged engine offers the efficiency of a small displacement engine – an EPA-estimated 34 mpg highway (FWD models) – with the power of a larger engine on-demand. Connectivity features include an available 4G LTE Wi-Fi hotspot.

New Corvette Feature Keeps An Eye On Valets

Face it. If you own a luxury or sports car, whenever you hand the keys to a valet, you imagine the car going on a high-speed joyride like the Ferrari in the 1980s cult movie "Ferris Bueller's Day Off." Now, General Motors has an option on the 2015 Chevrolet Corvette that takes those worries away. The latest version of the sports car, due out in September, has a feature that records where the car goes with a camera mounted in the windshield trim. It also captures audio in the cabin as well as speed, engine revolutions per minute, gear position and G-force. That all helps the car tattle on any valet who doesn't take a slow, direct route to a parking space. GM says it's the most extensive attempt by an automaker to thwart valet joyriders, although it's not the first. The automotive website Edmunds.com says Hyundai and Mercedes offer "geofencing," a feature that sets a perimeter and then notifies the owner's smart phone if a car goes beyond it. Chrysler has a valet mode that caps engine speed and horsepower, while Audi lets owners limit engine speed for valets. With the Corvette, once the owner activates the feature with a four-digit code, the touch screen tells the driver it's in Valet Mode. But it doesn't warn the valet that he's being recorded. The feature also locks the glove box and a storage compartment in the dashboard and shuts down the infotainment system. Valet Mode started off as a performance data recorder for those who take their Corvettes on the racetrack. GM engineers quickly figured out that it had more uses. "Think of it as a baby monitor for your car," Corvette Product Manager Harlan Charles said in a statement. "Anyone who has felt apprehension about handing over their keys will appreciate the peace of mind of knowing exactly what happened while their baby was out of sight." Data and video from the valet mode can be viewed instantly by the owner on the car's 8-inch color screen when the car is parked, or it can be downloaded to a computer. The system could go into more mainstream models if feedback is good on the Corvette, GM spokesman Monte Doran said. The feature is paired with a navigation system and costs $1,795. A 2015 Corvette starts at just under $54,000. Chevrolet Technology Gadgets