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GM Recalling Another 2.7 Million Vehicles In Five Separate Campaigns

The recalls keep rolling in from General Motors, evidently keen to avoid repeating the mistakes of the ignition-switch debacle and clean house. This time they're all coming at once, with five separate recalls announced together covering approximately 2.7 million vehicles. The largest of the five actions involves over 2.4 million units of the previous-generation Chevrolet Malibu and Malibu Maxx, Pontiac G6 and Saturn Aura in order to fix brake light wiring harness, which have been found to be susceptible to corrosion. The recall is separate from the 56k Aura sedans which GM recently recalled over faulty shift cables, not to mention the previous massive recall of 1.3 million vehicles – some of them the same models – but appears to have resulted from the National Highway Traffic Safety Administration investigation that started with the G6 almost a year ago. The second-largest campaign involves the 2014 Chevy Malibu, specifically those fitted with GM's 2.5-liter engine and stop/start system, approximately 140,000 examples of which has been found to have problematic brakes. The issue does not appear to be connected to the recall of 8k Malibu and Buick LaCrosse sedans (also involving brake woes) which we reported upon last week. Four crashes have been reported in such models, but GM admits it's not yet clear if the problem was a contributing factor in the accidents. A further 112k Corvette models from the 2005-2007 model years are being called in for problems with their low-beam headlamps resulting from a flexing relay control circuit wire that's not meant to bend. GM says it is "aware of several hundred complaints" about this issue, but notes that there have been no reports of related accidents. In addition, over 19k examples of Cadillac CTS from the 2013 and 2014 model years are being recalled over windshield wipers that might not work after a jump start. Finally, GM is also bringing in 477 examples of its 2014 Chevy Silverado, Tahoe and GMC Sierra (though not the Yukon) to fix a problem with a tie rod in its steering rack. As ever, all recall repairs will be performed free of charge, and GM is now estimating that recall-related actions this quarter will result in an estimated $200-million charge against its second-quarter earnings. Read the full announcement from GM below for further details.

Chevy donates first 2016 COPO Camaro to United Way

Want to get your hands on the first new COPO Camaro? Scottsdale will be the place to be this weekend. That's where Barrett-Jackson will auction off the drag-racing muscle car with the serial number 2016COPO001. The example on the docket is the very same show car that Chevy revealed at the SEMA show just a couple of months ago. Like every new COPO Camaro, it's based on the new sixth-generation coupe and packs an array of drag-racing upgrades. Those include a three-speed automatic transmission, solid rear axle, and adjustable suspension. While Chevy will offer the new COPO Camaro with a choice of three engines, this particular example packs the 5.7-liter supercharged V8, as well as a unique red and black livery designed by Chevy drag racing driver Courtney Force. 100 percent of the proceeds from the sale are destined to go to United Way, following previous examples that benefited wounded veterans. You can bet it will raise a pretty penny at auction, but if you miss this one, of course there will be more. Just don't wait around too long as the Bowtie brand will only make 69 of them this year. 2016 COPO Camaro No. 1 Sale to Benefit United Way Courtney Force designed show car to be auctioned for United Way 2016-01-26 DETROIT – Chevrolet will auction off the first, sixth generation 2016 COPO Camaro race car to raise money for United Way. The purpose-built COPO Camaro, serial number 2016COPO001, will be sold on Friday, Jan. 29, at the Barrett-Jackson Scottsdale auction. All proceeds of the winning bid will benefit United Way. "This is a special opportunity to purchase the first of the sixth generation, 2016 COPO Camaro while also helping such a great cause," said Jim Campbell, U.S. vice president of Performance Vehicles and Motorsports. The COPO is a powerful, purpose-built Camaro designed to race in NHRA Stock Eliminator class. The COPO Camaro legacy continues with an all-new sixth-generation version. This modern-looking machine infuses legendary COPO performance with the modern, lighter and stronger design of the 2016 Camaro. Chevrolet introduced the sixth generation COPO Camaro No. 001 last November at the SEMA Show and includes a personalized look created by Chevrolet and NHRA Funny Car driver Courtney Force. It features a Red Hot exterior color with Courtney Force-signature graphics and red-accented grille trim. "I was extremely honored to work with Chevrolet and help design the 2016 COPO Camaro," said Courtney Force.

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.