2014 Chevrolet Traverse 2lt on 2040-cars

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GM promises to add 20 EVs and fuel-cell cars to lineup, paid for by SUVs

DETROIT — General Motors outlined plans on Monday to add 20 new battery electric and fuel-cell vehicles to its global product lineup by 2023, financed by robust profits from sales of gasoline-fueled trucks and sport utility vehicles in the United States and China. "General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center. Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars. Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040. "We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said. GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank. Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines. The company offered sneak peeks of three EV prototypes: a Buick SUV, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM funds its forays into new technology using a river of cash generated by old-technology vehicles popular with its core customer base in the United States heartland. In comparison, Tesla has burned through an estimated $10 billion in cash and has yet to show a full year profit. GM earned more than 90 percent of its $12.5 billion in pretax profits last year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks. The company's profitable operations in China rely on consumer demand for an expanding lineup of gasoline powered SUVs. GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM collaborated with Korean battery maker LG Chem to build the Bolt battery system. Company officials did not say what companies would supply batteries for the larger fleet of vehicles promised by 2023. Fuel-cell vehicles will also play a role in GM's future, the company said.

GM recalling 686k Lambda-platform models for hatch repair

General Motors is recalling 686,287 units of its Lambda platform crossovers. On models equipped with a power rear hatch the system can potentially fail. This campaign includes the 2008-2012 Buick Enclave, 2009-2012 Chevrolet Traverse, 2007-2012 GMC Acadia, and 2007-2010 Saturn Outlook. According to GM's documents to the National Highway Traffic Safety Administration (as a PDF), dirt can get into a portion of the strut that holds up the hatch and cause the part to prematurely fail. There's a redundancy in place called the Prop Rod Recovery system that's designed to shut the liftgate if there's a malfunction. However, if the breakdown happens too quickly after the hatch is opened the prop rod might not work the way it's supposed to. If someone were in the way of the falling liftgate, they could be hurt. For the repair, dealers will update the software for the power liftgate actuator motor control unit to prevent the hatch from closing so quickly. They'll also check the operation of the system afterward. Related Video: RECALL Subject : Liftgate Struts may Fail and Liftgate may Fall Report Receipt Date: JUN 30, 2015 NHTSA Campaign Number: 15V415000 Component(s): STRUCTURE Potential Number of Units Affected: 686,287 All Products Associated with this Recall Vehicle Make Model Model Year(s) BUICK ENCLAVE 2008-2012 CHEVROLET TRAVERSE 2009-2012 GMC ACADIA 2007-2012 SATURN OUTLOOK 2007-2010 Details Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2008-2012 Buick Enclave vehicles manufactured January 3, 2007, to February 29, 2012, 2009-2012 Chevrolet Traverse vehicles manufactured July 6, 2008, to February 29, 2012, 2007-2012 GMC Acadia vehicles manufactured September 15, 2006, to February 29, 2012, and 2007-2010 Saturn Outlook vehicles manufactured August 17, 2006, to March 18, 2010. The affected vehicles, equipped with the power liftgate option, have gas struts that hold the power liftgate up when open. These struts may prematurely wear and the open liftgate may suddenly fall. CONSEQUENCE: If the open liftgate unexpectedly falls, it may strike a person, increasing their risk of injury. REMEDY: GM will notify owners, and dealers will update the software for the power liftgate actuator motor control unit so that the motor will prevent the rapid closing of the lift gate, free of charge. The manufacturer has not yet provided a notification schedule.

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.