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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.

NHTSA upgrades probe into 1.7 million GM vehicles over wiper failures

WASHINGTON — The U.S. National Highway Traffic Safety Administration (NHTSA) said Tuesday it is upgrading an investigation into 1.7 million General Motors vehicles for windshield wiper failures. The auto safety agency opened the probe in November 2018 to see if GM needed to expand a 2016 recall of 2013 model year Chevrolet Equinox and GMC Terrain SUVs to cover additional vehicles. The engineering analysis probe covers 2010-2012 and 2014-2016 Equinox and Terrain vehicles. NHTSA could demand a recall after it completes the probe. NHTSA said it has reviewed 1,900 complaints and reports related to the issue in the 1.7 million vehicles. NHTSA said it has seen elevated failure rates in the 1.7 million vehicles, even though GM said the recalled vehicles have "double the warranty rate and five times the complaint rate." GM said it will "fully cooperate to support their investigation. We do not believe these windshield washer systems are defective." The wiper failures that prompted the 2016 recall were attributed to water and debris intrusion into the windshield wiper assembly ball joints, leading to excessive wear and eventual detachment of the ball joint. GM said it was installing an improved windshield wiper motor and transmission assembly and relocating a drain hole at the base of the windshield. Related Video:

First 2015 Chevy Corvette Z06 Sells For One Million Dollars

NASCAR team owner Rick Hendrick loves buying first-built Chevrolet models for charity. He paid $1 million to buy the first production 2014 Corvette Stingray Convertible and $650,000 to get the first 2014 Chevy Camaro Z/28. Hendrick's latest purchase happened at the Barrett-Jackson auction in Palm Beach where he got into a bidding war to pay $1 million to get the first 2015 Corvette Z06. The bidding came quick with the car reaching $100,000 within 3 seconds and hitting $500,000 in about 35 seconds. The money from the sale was donated to the Karmanos Cancer Institute. Related Gallery Harley Earl's Corvette Up For Auction