1994 Chevrolet Corvette on 2040-cars

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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.

GM sweetens military discount for Buick, Chevy and GMC

American servicemen and women interested in a new vehicle from Chevrolet, Buick or GMC now have a bit more incentive to head down to their local dealer, as General Motors has announced plans to improve its military discount program.
The new GM Military Discount Program offers eligible consumers a new Chevy, Buick or GMC at invoice pricing, which in some cases can take very large chunks out of a car's retail price. When factored in with other incentives, most of which are available with the Military Discount, the bargains are thick on the ground for members of the US armed forces.
GM's Retail Sales and Marketing Support general manager, Chuck Thomson, said, "GM has long supported the military and military families, and we hope this simplified and enhanced discount will show our appreciation for their service and help make it easier for them to own one of our great new vehicles." The program is open to all active duty and reserve members in the Army, Navy, Marines, Air Force, National Guard and Coast Guard, as well as veterans that have been out of the service for less than a year. Military retirees and their spouses are also eligible for the discount.

2014 Chevrolet Corvette Stingray Convertible is a Swiss hit

We've just received an early peek at the 2014 Chevrolet Corvette Stingray Convertible here at the Geneva Motor Show. General Motors was kind enough to let us attend the final dress-rehearsal for its press conference scheduled for tomorrow's opening media day, and we've come away with a good look at the droptop C7 in person.
In the metal, the new Corvette Convertible seems somehow less avant-garde than the Coupe, even in Z51 Performance Package guise. That's not necessarily a bad thing - more of an observation. That initial impression may be because the C7's new greenhouse is one of its most prominent departures from Corvettes past. While we didn't get to see the top erected, there's no rear side window in the stock images that Chevy has already released, suggesting the C7 convertible's profile will look a lot like its C6 predecessor. And with the new power tonneau cover in place, there are also no rear ducts that come as part of the Z51 package (they've been moved under the car).
As with its predecessor, the tonneau is a handsome double-bubble piece, and the body-color "waterfall" element into the cabin between the seats has made it to the new model as well. Thus, the overall look with the top down should be a bit more familiar to prior-gen C6 owners - if you're one of those put off by the C7's new shape, you'll probably appreciate the convertible bodystyle more than the coupe.