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First 2015 Chevy Corvette Z06 Sells For One Million Dollars

NASCAR team owner Rick Hendrick loves buying first-built Chevrolet models for charity. He paid $1 million to buy the first production 2014 Corvette Stingray Convertible and $650,000 to get the first 2014 Chevy Camaro Z/28. Hendrick's latest purchase happened at the Barrett-Jackson auction in Palm Beach where he got into a bidding war to pay $1 million to get the first 2015 Corvette Z06. The bidding came quick with the car reaching $100,000 within 3 seconds and hitting $500,000 in about 35 seconds. The money from the sale was donated to the Karmanos Cancer Institute. Related Gallery Harley Earl's Corvette Up For Auction

2015 Chevy Volt will be available with 4G LTE

General Motors teased consumers two years ago when it showed off a Chevrolet Volt decked out with 4G LTE connectivity. More details were finally unveiled this month at the Consumer Electronics Show in Las Vegas: the 2015 Chevy Volt will have a 4G LTE option and will offer consumers an as-yet-unpriced option with much faster wireless internet connection and more smartphone apps. GM's OnStar has teamed up with AT&T to come up with several mobile apps alongside the roadside assistance. The Volt joins the 2015 Corvette, Impala and Malibuz models that will debut with a 4G LTE option this year. The first four 4G ChevroLTE models will be released this summer and will be joined by the Spark (EV and gas versions), Equinox, Silverado and Silverado HD. GM has yet to announce whether any Cadillac or Buick models will get the 4G option. Chevrolet Accelerates to 4G LTE Speeds in 2014 Bowtie brand models in U.S. and Canada to get OnStar 4G LTE by summer LAS VEGAS – Starting this summer, Chevrolet will have some of the fastest vehicles on the roads, and that has nothing to do with horsepower. Chevrolet drivers will be enjoying high-speed data - made possible by a new OnStar 4G LTE connection in the vehicle, running on AT&T's network, the nation's fastest and most reliable 4G LTE network. Chevrolet today announced at the Consumer Electronics Show that the 2015 Chevrolet Corvette, Impala, Malibu, and Volt would be the first General Motors' vehicles to come optionally equipped with OnStar 4G LTE. They will be followed by the Equinox, Silverado, Silverado HD, Spark and Spark EV. In the Canadian market, OnStar with 4G LTE will be introduced on the Chevrolet Trax as well. The majority of the 2015 Chevrolet lineup in the U.S and Canada will have a 4G LTE connection built-in at vehicle launch. More models will be announced later this year. "Chevrolet is expected to implement the broadest deployment of 4G LTE in the automotive industry," said Alan Batey, senior vice president of Global Chevrolet. "The fact that OnStar with 4G LTE will be available in models that range from the Chevrolet Spark to the Silverado to the Corvette, is indicative of our broad commitment to deliver more value and convenience through smart technology applications.

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.