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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.

Nissan Leaf sets another monthly sales record, Chevy Volt remains steady

Here we go again. Another month in the books and another month of record sales by the Nissan Leaf in the US. For October, the world's best-selling pure EV sold 2,589 units, which is 29.3 percent more than October 2013. That makes it 20 times in a row that Nissan can say that last month sales were better than the same month a year before. All told, Nissan has sold 24,411 Leafs in the US this year, a new record, reflecting an overall Leaf sales rate that is up 35 percent, year-to-date. Nissan isn't stopping, either. A new TV ad, one that, "encourages consumers to kick gas" by saving money on fuel will start airing today in major markets, according to Toby Perry, director of Nissan's EV marketing. You can watch it below. As for the Chevy Volt, things remained steady last month in the face of a new model that's coming in the second half of 2015. Chevy sold 1,439 Volts last month, which is about the same as September (1,394) but down 28.8 percent from the October 2013 despite GM having its best overall US October sales this year since 2007. So far, 2014 Volt year-to-date sales are down 14.9 percent through the end of October compared to 2013. And that wraps up the flash report on monthly sales for these two long-standing plug-in vehicles in the US market. As always, we'll have our in-depth write-up of US green car sales available soon. For now, we await your comments, below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

GM starting to talk seriously about 200-mile EV

We've been hearing word of a 200-mile EV from Chevrolet for a while now. First, there was General Motors then-CEO Dan Akerson hinting at a $30,000, 200-mile EV that would take the competition by surprise. Then Akerson confirmed that GM is working on a 200-mile EV in a speech in March. LG Chem, which supplies batteries to GM and other automakers, recently said it was working on batteries for EVs with a range of 200 miles. GM's head of global product development Mark Reuss just re-confirmed that there are plans for an EV with a 200-mile range, and sources have told Automotive News what that car will be. While Reuss didn't mention anything about a specific model or platform, two undisclosed sources with knowledge of GM's plans have said that an EV with a range of about 200 miles is indeed in the works, and that it will be based on the Chevrolet Sonic. The sources also gave a timeline for the car, saying it is slated for sometime in 2017. According to Reuss, the plan is for Chevy to offer a lineup of electric cars, with the 200-mile EV joining ranks of the Chevrolet Volt and the Spark EV. He didn't hint at a timeline, but if the sources are correct, we could see a Sonic EV being built within a few years. Reuss sees demand for it, too. When speaking of the Spark EV, currently only available in California and Oregon, he says that "people wish we would sell it all around the country." If he's right about that, it's not difficult to imagine people taking interest in Chevrolet's 200-mile electric car, whether or not it's a Sonic.