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Recharge Wrap-up: Tesla P85D upgrades coming soon, lease a Chevy Volt for $149 a month

CarCharging has raised $6 million from shareholders and has restructured to save cash. The EV charging company plans to expand further in 2015 - with an eye toward achieving profitability - in part by investing in technology and "unlocking the value of our significant equipment inventory," says CarCharging CEO Michael D. Farkas. The group expects to reduce administrative costs by 40 percent, and has hired an interim Chief Financial Officer to help carry out its plans for growth. CarCharging raised the cash through offering convertible preferred stock to its shareholders, whom Farkas thanked "for their passion and patience." Read more in the press release below. Rydell Chevrolet in Los Angeles is offering Chevrolet Volt leases for $149 per month. In a video ad, Rydell offers the Volt for $169 a month with $3,390 due at signing, but another ad shows the offer at $149 a month with $3,550 down or $248 per month with $0 down. Rydell Chevrolet will ship the car anywhere in the lower 48 states. It also appears they offer cupcakes. See Rydell's video below, or read more at Inside EVs. Tesla will upgrade the Model S P85D with higher performance and top speed. The free update, which is due "in the next few months" according to a statement from Tesla, will raise the electronically limited top speed from 130 to 155 miles per hour. "Additionally, an over-the-air firmware upgrade to the power electronics will improve P85D performance at high speed above what anyone outside Tesla has experienced to date," Tesla says. The update will be available for the lifetime of the car, which includes subsequent owners. Read more at Green Car Reports. Car Charging Group Completes $6 Million Capital Raise Concurrently Enacts Restructuring Actions to Reduce Cash Burn MIAMI BEACH, Fla., Dec. 29, 2014 /PRNewswire/ -- Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging" or the "Company"), the largest owner, operator, and provider of electric vehicle (EV) charging services, today announced that it has closed an offering (the "Offering") and raised net proceeds of up to $6 million with current institutional shareholders. The Offering consisted of convertible preferred securities with a conversion price of $0.70 and warrants exercisable at $1.00. Proceeds will be used to: - Strengthen CarCharging's balance sheet; - Build on the past year's progress; and - Provide growth capital for expanding the Company's network.

GM takes 2020 full-size pickup sales crown

It's no secret that 2020 was an unconventional year for auto sales. Extenuating circumstances or not, it was a year of upheaval even for ever-resilient (and ever-profitable) pickups, with General Motors taking the crown from Ford in the full-size segment.  The Ford F-Series still outsold every other full-size pickup nameplate in the country by a significant margin. It's only when you combine GM's Chevrolet Silverado and GMC Sierra variants that you get a number that exceeds Ford's. This isn't really a new phenomenon, either. In fact, it was only somewhat recently that Ford took the overall full-size crown away from GM, and not only did Ford widen the gap in recent years, but Ram has once again become a legitimate challenger, even managing to outsell the Silverado by a healthy margin in 2019, but never coming close to the F-Series in terms of total volume.  But, 2020 being 2020, things got weird yet again. Ram remains relevant, of course, but Ford got caught with its pants down thanks to the one-two punch of COVID and the generational changeover of the core F-150 model, which resulted in a production interruption as the company's assembly facilities transitioned from building the old 2020 model to the new-for-2021. This perfect storm, as it turns out, was sufficient for GM to walk away with the full-size crown. See for yourself: Full-size 2020 pickup sales: GM total: 847,110 F-Series: 787,422 Silverado: 594,094 Ram: 563,676 Sierra: 253,016 Tundra: 109,203 Titan: 26,439 As you can see, Ram slipped back behind Silverado, slotting comfortably into third place. The Silverado 1500 had a flat year, but the heavy- and medium-duty variants bucked the trend and contributed to a slight uptick in sales for the nameplate, while F-Series tumbled more than 12% (nearly 110,000 units), opening the door for GM to steam ahead.  There were similarly significant shakeups in the midsize truck segment. First, 2020 was the first full year of retail sales for the Gladiator pickup, which surged to fourth place behind the stalwart Tacoma, Ranger and Colorado. GM's combined sales of the Colorado and Canyon are good enough for second place by manufacturer, but nowhere close to what it would take to dethrone Toyota.

GM recalls 55,000 trucks, SUVs for separating axles, fuel pump failures

General Motors issued four separate recalls covering eight of its truck and SUV models for issues related to fuel pump and half-shaft failure. In total, the four campaigns include more than 55,000 vehicles spread out over three brands and six model years, but they've sorted themselves neatly into two categories. Let's dive in.  Axle separation Four models are being recalled for potential axle separation: The 2023 Cadillac XT5, 2023 GMC Acadia, 2023 Chevy Blazer and 2023 Chevy Traverse. The number of units affected is incredibly small (10 units each times two recalls, for a total potential population of just 20 cars). In each case, a small number left the factory with half-shaft assemblies that may have been missing the retention rings that keep them in place, possibly allowing the axles to separate or eject from the transmission. In the case of the XT5 and Acadia, it's the right-side axle assembly; Chevy dealers, however, will have to check the left side.  Fuel pump failure Again, we have multiple vehicles being recalled for similar issues, but in this case they're a bit more distinct. The first of these recalls covers the 2021-2022 Chevy Equinox and 2022 GMC Terrain. GM says a supplier-initiated change may have led to fuel pumps shipping with inadequate clearances to allow for the prescribed flow of fuel, meaning the pump could starve the engine. Customers experiencing the issue may see a check engine light and experience engine hesitation. In some cases, the cars may not start at all. Chevy and GMC will replace the units in question with correctly specified pumps.  The second recall covers a fairly specific cross-section of GM's HD truck lines. 2017-2019 Silverado and Sierra HD trucks sold with the diesel engine and a dual-tank configuration may have shipped with a rear fuel pump that is susceptible to fouling by debris, preventing fuel from properly transferring to the front tank, or, in extreme cases, resulting in a collapse of the rear tank. This issue can lead to inaccurate/erratic fuel tank readings, engine hesitation, a check-engine light or failure to start.  In both cases, GM will inspect and replace faulty units free of charge for customers. Expect notifications to be delivered by March.  Related video: Recalls Cadillac Chevrolet GMC Ownership Safety Truck SUV