1966 Chevrolet Corvette Convert on 2040-cars

Auto blog

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.

GM to idle Indiana truck plant for two weeks over chip shortage

WASHINGTON —General Motors said Friday it will idle for two weeks in April an assembly plant in Indiana that builds pickup trucks, over ongoing semiconductor chip shortages. The Detroit automaker said it will halt production at its Fort Wayne assembly plant, which builds the Chevrolet Silverado 1500 and GMC Sierra 1500, for two weeks starting April 4. "There is still uncertainty and unpredictability in the semiconductor supply base, and we are actively working with our suppliers to mitigate potential issues moving forward," GM said Friday. The automaker said this is its first semiconductor-related full-size truck production downtime since August. GM noted that overall it has "seen better consistency in semiconductor supply through the first quarter compared to last year as a whole. This has translated into improvement in our production and deliveries during the first three months of the year." GM Chief Executive Officer Mary Barra met with some lawmakers on Capitol Hill this week, including Republican Senator Todd Young of Indiana. GM is backing a bill in Congress to provide $52 billion in government subsidies to boost U.S. semiconductor manufacturing. GM said that legislation could help "alleviate the ongoing shortage that continues to impact U.S. automotive manufacturing." (Reporting by David Shepardson; editing by Jonathan Oatis) Related video:

Chevy trademark for E-Ray may signal Corvette hybrid or EV

A spy photographer and friend of Autoblog Chris Doane spotted this trademark filing with the US Patent and Trademark Office, and there's not much to it: Chevy is calling dibs on the "Corvette E-Ray" name, and that raises more questions than answers. Being obsessed with this industry is an Autoblog core value, and Corvette is perennially a big deal. It's also historically, and famously, resistant to change. So what's going on here? Unless it's a pure show car, it's unlikely the E-Ray will be a C7-based hybrid. The current Corvette is a tightly-packaged thing, and batteries are bulky. That makes a concept of some sort all the more likely, especially with the Detroit Auto Show coming up. Unconstrained by the packaging of the real-world Stingray, this E-Ray concept may be a pure EV, or a hybrid, of any configuration. GM has built mid-engined Corvette concept cars in the past, and maybe we'll see one again in a few weeks. A gutted C7 with a pure EV drivetrain is also a remote possibility, although less likely – the Stingray wasn't engineered with that in mind, and we think GM's too big to show off a hack-job at a major auto show. Not that it is a Corvette competitor, but don't forget that the Tesla Model S P85D and it's P90D successor have taken pure EV performance into the mainstream – the upper end of the mainstream, to be sure. It has been enough to draw industry performance players into the genre. Look at Aston Martin's production-possible RapidE concept, a pure EV, and the confirmed-for-production Porsche Mission E. We've heard rumblings in the past that Corvette may become a marque unto itself, spawning a variety of variants (including the hypothesized mid-engined production car – don't hold your breath). Perhaps the gas-powered C8, in whatever form it takes, will be complemented with a greener version. We'll try to dig up insider information about what the E-Ray will reveal itself to be, but rest assured that if it shows up at Detroit we'll bring you analysis of every inch of it.Related Video: Featured Gallery 2016 Chevy Corvette Z06 C7.R Edition View 9 Photos Tip: Chris Doane/Facebook Green Rumormill Detroit Auto Show Chevrolet Electric Future Vehicles Hybrid Performance corvette stingray