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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.

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.

2016 Chevy Colorado grabs Motor Trend Truck of the Year award

It's not an easy feat to win Motor Trend Truck of the Year twice in a row, but the 2016 Chevrolet Colorado managed to do just that. Thanks to the introduction of the 2.8-liter Duramax four-cylinder diesel, the magazine decided to bring the pickup back to defend the title. In more good news for the Bowtie brand, the 2016 Camaro earned the magazine's Car of the Year award. The Colorado beat a tough group of finalists to earn the nod this year, including its GMC Canyon sibling. The Chevy Silverado and GMC Sierra also made this year's list. The Nissan Titan XD and latest Toyota Tacoma rounded out the challengers. A model had to shine in six criteria to earn the title: advancement in design, engineering excellence, safety, efficiency, value, and performance of intended function. Like it did with the Camaro, Motor Trend posted a story online that explained the rationale for picking the Colorado again. They praised the diesel profusely and lauded the whole platform as quite a capable hauler. This year's Motor Trend SUV of the Year honor went to the Volvo XC90. The Swedish 'ute had to win against an initial group of 16 candidates that the magazine eventually whittled down to finalists that consisted of the Honda Pilot, Lincoln MKX, the combined Mercedes-Benz GLE-Class and GLE Coupe, and Nissan Murano. "Seven-passenger people movers aren't supposed to drive like this," senior features editor Jonny Lieberman said about the Volvo in the announcement of the champions. The Honda CR-V won last year. In the explanation online, the judges applauded the XC90's new modular platform, and they loved both the T6 twin-charged engine and T8 hybrid version. The SUV's key enamored the writers, too. Related Video: MOTOR TREND Announces 2016 "Of The Year" Winners Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year announced during live ceremony and webcast in Los Angeles LOS ANGELES, Nov. 16, 2015 /PRNewswire/ -- Today, for the first time in the brand's 66-year history, MOTOR TREND announced winners of the Golden Calipers for Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year at a red-carpet gala in front of an audience of industry insiders and celebrity guests. The awards show was also streamed live on the MOTOR TREND Channel on YouTube, with 3.5 million subscribers the world's largest automotive video channel, and on MOTOR TREND OnDemand, the brand's new subscription video on demand (SVOD) channel.