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GM to restore legendary Corvette damaged in sinkhole accident

Car lover's hearts' sank when they saw images of bent and destroyed classic Corvettes at the bottom of a sinkhole last February after the floor of the National Corvette Museum gave way. General Motors announced Wednesday it would restore the one millionth Corvette ever produced to its former glory. The 1992 convertible was heavily damaged when a 40-foot deep sinkhole opened beneath a bevy of rare cars at the National Corvette Museum in Bowling Green, Kentucky. Since then, GM has been slowly restoring the classic cars, though five of the eight that caught in the sinkhole were determined to be too damaged to repair. This November, the 2009 Corvette ZR1 Blue Devil was the first car to be returned in mint condition to the Museum, according to Autoblog. It suffered significant damage but was still drivable after being pulled out of the debris. The one millionth Corvette is still in bad shape. The automaker is estimating six months worth of work to restore the car, which sustained paint scratches, rear-suspension damage and a mangled front fender. Related Gallery Consumer Reports Most Loved Cars 2014 Chevrolet GM Automotive History corvette famous cars sinkhole corvette museum

Since 2010, Chevy Volt has outsold Nissan Leaf by just two units

The first two plug-in vehicles from major automakers in the US were the Chevy Volt and the Nissan Leaf. Ever since they went on sale to much fanfare in late 2010, we've been tracking the monthly sales with great interest (and, of course, other green vehicle sales as well). After a big initial lead by the Volt – the Volt outsold the Leaf 23,461 to 9,819 in 2012 – the Leaf has been chugging along and outsold the Volt every month since November 2013. We knew that the cumulative totals would soon tip in favor of the Leaf, but for at least one more month, the Volt is going to be able to say its the most popular plug-in vehicle in the US. Overall, for all officially reported sales of the Leaf and the Volt, things are almost exactly tied. Since the vehicles went on sale in the end of 2010 until the end of February 2015, the Volt has sold 74,592 units and the Leaf has sold ... drumroll please ... 74,590 units. For February, Leaf sales totaled 1,198 units, a 17-percent drop from the 1,425 Leafs sold last February. Brendan Jones, Nissan's director of Electric Vehicle Sales and Infrastructure, said in a statement that, "Tough winter weather in several key markets held EV sales back in February. As we head into spring, we look forward to seeing more dealership traffic so shoppers can experience firsthand the benefits of the all-electric Nissan Leaf." Of course, it was cold in the US last February, too, but we're sure that the nasty weather did indeed play a role last month. Things were even worse for the Chevy Volt, which dropped to just 693 copies sold, down 47 percent from the 1,210 sold last year. That's just barely enough for Chevy to keep talking about its plug-in sales leadership, but we expect the message to change once the March numbers come out next month. Related Video:

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.