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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.

Dale Earnhardt, Jr. puts his Callaway Corvette and '55 Chevy on eBay

Dale Earnhardt, Jr. has put a couple of his personal cars up for sale on eBay. The first is a 1955 Chevy Bel Air that Junior had reworked by Funkmaster Flex, a bit of a diversion from Flex's more common Ford efforts. Junior's ride has a replacement chassis from Jim Meyer Racing, a 434 small-block tuned by Sharioff Racing to 500 horsepower, and truly thin rubber on what appear to be aluminum billet rims with Junior's former number 8 on the center caps. The interior is all custom and painted to match the outside, and those seats have been completely reupholstered. The second car is a 1999 Callaway C12, the 18th of 19 C12s built that year and featured in a 2002 issue of AutoWeek. It joined Earnhardt's private collection in 2004. Built on the base of a C5 Chevrolet Corvette and using a lot of technical know-how from Callaway's European racing program, the BMW #287 Blue Pearl C12 had its V8 bored out to 6.2 liters and graced with Callaway's Supernatural upgrade; it also has a Callaway coil-over suspension with adjustable dampers. There's new bodywork all around, and when new it cost about $200,000. At the time of writing bidding on the Bel Air was up to $80,100, the C12 was at $63,100. The auction ends Monday morning, and the winning bidders have the option of having their prizes autographed and retrieving the keys from Dale Jr himself if they're willing to go to Moorseville, NC. Featured Gallery Dale Earnhardt Jr. '55 Chevy Bel-Air View 28 Photos Related Gallery Dale Earnhardt Jr. Callaway C12 View 24 Photos News Source: Dale Earnhardt Jr via eBay [1], [2] Aftermarket Celebrities Chevrolet Auctions Coupe Luxury Special and Limited Editions Performance Classics eBay callaway callaway corvette Chevy Bel Air

Electric Cadillac Lyriq, Chevy Bolt EUV and more GM electric cars are on the way

GM’s murky and somewhat secretive electric car plan is falling into place, as the company dumped a massive amount of information about whatÂ’s in the pipeline at an event at its Warren, Michigan campus today. New EVs are going to be popping up across the GM brand lineup, with new entries from Chevrolet, Cadillac, GMC and Buick in progress. We also learned some big news about GMÂ’s new Ultium battery tech today, but check out this story for all of those nitty-gritty details. The electric vehicle onslaught will begin with the Cadillac Lyriq, an electric SUV thatÂ’s already been teased out. Naming it the Lyriq is the news today. No explanation for the name was provided, so weÂ’ll have to wait for April to learn more. GM didnÂ’t specifically say if the Lyriq would be launched at the NY Auto Show, but that show (assuming coronavirus doesnÂ’t cancel it) will begin on April 8 this year. Next up in the order of events is the GMC Hummer electric truck that we know will be launching on May 20. This truck will use GMÂ’s modular Ultium battery technology. However, the wait to buy a GMC Hummer will be a long one, as the truck isnÂ’t going to dive into production until fall 2021 at GMÂ’s Detroit-Hamtramck plant. GM revealed that its new modular Ultium batteries can be configured anywhere from a 50 kWh pack to a 200 kWh pack depending on the application. Range is estimated to be about 400 miles on the upper end with the largest battery pack, and GM continues to boast about a 0-60 mph acceleration time of three seconds. Charging estimates for the Ultium battery-equipped Hummer EV were also provided. GM says its truck platform will have 800-volt battery packs and be capable of 350 kW fast-charging. Time estimates werenÂ’t given, but those numbers suggest the truck will be a rapid charger. The Hummer truck on hand, which was the same that previously starred in GMC's Super Bowl spot, showed off removable roof panels that store in the frunk, as well as what appeared to be a version of GMC's Multi-Pro tailgate. It also featured sail panels on the sides, similar to those in front of the bed of the Chevy Avalanche. In addition to the Hummer, expect to see a couple Chevys launching. GM says the refreshed Bolt EV will be launched “in late 2020” with a refreshed interior and what appear to be thicker front seats.