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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.

New Chevrolet Silverado to be revealed on Facebook on Thursday

There's not much to see here, but if you're one of those waiting for the reveal of the 2014 Chevrolet Silverado 1500, above is the teaser image that Chevrolet posted on its Facebook page. We've seen the truck in form-fitting camo before, and even less can be made out here beyond those seriously punchy Silverado-esque fenders and the knowledge that the projector-beam headlamps teased previously do indeed work. We'll have to wait until Thursday for a full perusal of the "bold exterior design" and "careful attention given to every detail" we've been promised.
Gathering intel and rumors, magnesium and aluminum contribute to the Silverado's weight loss plan, the purported "High Country" top-tier trim will contribute to luxury pickup truck competition and profit margins and the next-generation small-block V8 will contribute to improved fuel economy. On the engine note, there have been rumors of available V6 engines, and when Facebook user John Jones asked "Where's your answer to that EcoBoost Chevy?", the Bowtie replied "stay tuned on the 13th. We think you'll be pleased...".
Along with the "Raise the Bar" tag, Chevrolet says of the Silverado, "You asked, we delivered." You can watch the reveal live on Chevrolet's Facebook page at 9:30 am EST, this Thursday, December 13. The GMC Sierra 1500 will also be there, and we'll see both in person at the Detroit Auto Show in January.

GM recalls trucks and SUVs for brake pedal problem

The Basics: General Motors will recall over 473,000 North American examples of the 2015-2016 Chevrolet Silverado HD, GMC Sierra HD, and police pursuit versions of the Chevy Tahoe. These include 426,573 vehicles in the US and 46,837 in Canada, according to Reuters. The Problem: The brake pivot nut can loosen over time, which can render the pedal inoperative. This would be a danger to drivers trying to stop the vehicles. In some cases, the "Service Engine Soon" light might come on. Injuries/Deaths: None reported. The Fix: Dealers will inspect the pivot bolt, and if necessary they will apply adhesive to it and reinstall the part with increased torque. If You Own One: "We expect to start customer notifications shortly," GM spokesperson Tom Wilkinson told Autoblog. Related Video: Transport Canada Recall # 2016053 Recall Date 2016/02/04 Notification Type Safety Mfr System Brakes Manufacturer Recall Number 20760 Units Affected The number of vehicles or components affected by the recall. 46,837 Category Light Truck & Van, SUV Recall Details On certain Heavy Duty and Police Pursuit vehicles, the brake pedal pivot nut may become loose, causing the brake pedal to be loose or inoperative. If the brake pedal becomes loose or inoperative, it could interfere with the accelerator pedal, and/or the driver may be unable to safely stop the vehicle through application of the brake pedal, potentially affecting stopping distances and increasing the risk of a crash causing injury and/or damage to property. Correction: Dealers will inspect the pivot bolt installation to determine whether the vehicle has already received the production remedy. If not, the dealer will add adhesive to the nut, and reinstall the nut at an increased torque. Note: This condition may result in the "Service Engine Soon" light illuminating, and brake lights may stay on longer than expected. Make Model Model Year(s) Affected CHEVROLET SILVERADO 2015 2016 CHEVROLET TAHOE POLICE PURSUIT VEHICLE 2015 2016 GMC SIERRA 2015 2016