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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.

PickupTrucks.com's latest test results in a familiar winner [w/video]

PickupTrucks.com has gone and thrown the latest batch of half-ton pickups into a cage match to see who would come out on top. The site put the 2014 Chevrolet Silverado 1500, GMC Sierra 1500, 2013 Ford F-150, Ram 1500, Toyota Tundra and Nissan Titan through a battery of tests. Those included 0-60 miles per hour acceleration, 60-0 mph deceleration, fuel economy, a hill climb, and payload and towing. They even threw the rigs on an autocross course to evaluate overall handling. Each truck was given points based on how it scored in each evaluation.
Who came out on top? Somewhat surprisingly, the 2013 Ford F-150 walked away with the gold, though fewer than 50 points separated first and fourth place. Head over to PickupTrucks.com to read the full evaluation and the final results. You may be shocked to see exactly where some of the segment's newest additions placed. You can also watch a video on the test below.

GM expected to debut two new crossovers at Detroit Auto Show

Next month, General Motors is expected to debut two new crossovers at the North American International Auto Show. That's according to Automotive News and The Wall Street Journal, which reports that the successors to the aging Chevrolet Traverse and GMC Terrain will finally make their debut. The two crossovers have been on sale since 2009 and 2010 respectively and are due for updates as the competition has newer models on the market. Both crossovers play in growing market segments where sales success is crucial for the respective brands. GM, and the automotive industry as a whole, has been shifting its focus towards crossovers in the last few years. The Traverse and the Terrain are some of the oldest SUVs on the market and are in dire need of an update. GMC's Acadia, the former corporate clone to the Traverse (and Buick Acadia), switched to a new platform in 2016. And the Terrain's platform-mate, the Chevrolet Equinox, was revealed a few months ago. Both the new Chevy and GMC models are expected to go on sale late in 2017 as 2018 models. Look for a follow up to the Traverse's sister, the Buick Enclave, to make an appearance soon. Related Video: News Source: The Wall Street Journal via Automotive NewsImage Credit: Reuters Rumormill Detroit Auto Show Chevrolet GMC Crossover SUV gmc terrain 2017 Detroit Auto Show