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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.

2015 Chevrolet Silverado Custom glitzes up volume model [UPDATE]

UPDATE: The original prices listed in Chevrolet's press release did include destination charging, despite not being specifically called out as such. We've edited the story to reflect this. The Chicago Auto Show's reputation as the home of special edition debuts grows stronger today, as Chevrolet is complementing the news that it'd unveil the Silverado Midnight Edtion and Colorado GearOn special editions in the Windy City with the debut of the Silverado Custom. And yes, it's different than the higher-spec Custom Sport that debuted just last month in Detroit. What's so custom about the Silverado Custom, you ask? Well, not a whole lot. The new truck is based on the popular Silverado LS Double Cab, and adds, among its most noteworthy features, a set of 20-inch, five-spoke wheels. From there, chrome is the order of the day, with shinier front and rear bumpers, mirror caps and door handles. The top portion of the front bumper, which is finished in black plastic on the standard LS, is matched to the body color on the Custom model. Standard LS interior features, like the 4.2-inch MyLink system with 4G LTE wireless internet, 40/20/40 cloth front seats, remain in place on the Custom, while it's a similar story with the powertrain. Choices below the sheetmetal will force buyers to choose between a 5.3-liter V8 or a standard 4.3-liter V6, and two- or four-wheel drive. Chevy is pricing a V8-equipped Silverado Custom 4x2 at $33,820 (including $1,195 in destination charges). Adding four-wheel drive brings the price up at $37,800, although as we said, selecting the 4.3-liter V6 will yield a more affordable Custom. Check out the full press release on the newest member of the Silverado clan, available below. 2015 Silverado Custom: Back to Basics, with Style $33,820 starting price for a well-equipped double-cab V-8 CHICAGO – Chevrolet takes aim at the heart of the pickup market with the Silverado Custom, which offers Chevy Truck capability and dependability in a stylish package, priced within reach of many truck customers. "The economic recovery has led to booming sales of high-end pickups like the Silverado High Country," said Sandor Piszar, marketing director for Chevy Trucks. "But there are also millions of customers in the heart of the market who want a great looking, well-equipped truck at an affordable price.

Chevy exec confirms SS production model reveal at Daytona on Feb 16

The 2014 Chevrolet SS will make its racing debut for the 2013 Daytona 500, but the production version of the car will get its official unveiling on February 16 in Daytona, a week before The Great American Race. According to a report by Automotive News, the reveal has been confirmed by Jim Campbell, Chevy's US vice president of performance and motorsports. With the departure of the Dodge Charger, the new Chevrolet racecar will be the only competitor to feature a V8, rear-wheel-drive layout in both street and NASCAR form.
NASCAR fans will be able to see the new fullsize performance-oriented sedan on display in the festivities leading up to the Daytona 500, but the car won't go on sale until later in the year. The Australian-built Chevy SS will be a low-volume performance model, and it will be priced above the 2014 Impala, which starts at $27,535.