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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.

Chevrolet considering midsize crossover to slot between Traverse and Equinox

Crossovers are the new hotness, and automakers are looking to cash in by offering a size and shape for every customer. With Chevrolet's debut of the new 2018 Traverse in Detroit, which grew ever so slightly compared to the first-generation model, there is now a midsize-crossover-sized hole between the three-row Traverse and the compact Equinox. When asked about that obvious space, a Chevrolet spokesperson told us the company is looking into the possibility of expanding its crossover lineup. It should be a relatively simple thing to do, since all it would take is reskinning and rechristening the GMC Acadia with a bow tie, and we all know how much GM loves platform sharing. Although they're now different sizes, the new Acadia and Traverse still use the same platform; the Acadia is now on a short-wheelbase version of the C1XX while the Traverse uses long-wheelbase C1XX parts. A short-wheelbase Chevy built on the C1XX likely would be differentiated visually from both the Acadia and the larger Traverse. It may seem like flooding the lineup with more and more models would cannibalize sales of existing ones, but Chevrolet said it would rather have customers stay within the brand rather than going to another automaker. There have been whispers that some form of the Blazer name (possibly TrailBlazer) may make a return on a midsizer, but if it does don't expect an old-school body-on-frame SUV like the old one. In the end, if Chevy builds it, customers will come. Related Video:

Pony cars, trucks and Italian SUVs | Autoblog Podcast #552

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Associate Editor Reese Counts. We discuss the updated 2019 Chevy Camaro Turbo 1LE variant, the new 2019 GMC Sierra Denali, and the Ferrari-powered Maserati Levante GTS. We also debate whether Volkswagen should build the Atlas-based Tanoak pickup truck and what a delay means for the next-gen Ford Mustang. Finally, we answer a reader question about the state of Lexus.Autoblog Podcast #552 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Chevy Camaro Turbo 1LE 2019 GMC Sierra 2019 Maserati Levante GTS Should Volkswagen build the Tanoak? Next-gen Ford Mustang delayed The past, present and future of Lexus Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Chevrolet Ford GM GMC Lexus Maserati RAM Truck Coupe SUV Luxury Performance