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General Motors CEO Provides Few Details In Appearance Before Congress

It was only two months ago that Mary Barra, freshly crowned as the new General Motors chief executive officer, visited Washington DC as an esteemed guest of First Lady Michelle Obama for the State of the Union address. On Tuesday, Barra returned to the Capitol under more strained circumstances. For more than two contentious hours, she took questions from members of a House of Representatives subcommittee investigating General Motors years-long delay in initiating a recall of millions of vehicles that contained a defect that has killed at least 13 people. Why did GM accept faulty ignition switches that were below the company's set specfications? Why did GM learn about the problem in 2001 yet take no action until 2014? Will GM compensate victims' families even though the company's bankruptcy may limit its liability? Those were a few of the questions members of the House Oversight and Investigations Subcommittee asked. Few concrete answers were forthcoming. For her part, Barra sidestepped most of the questions, saying she wouldn't have information needed to answer them until an internal review is completed. David Friedman, the administrator of the National Highway Traffic Safety Administration, testified after Barra. The biggest news that emerged from the hearing was that General Motors has retained attorney Kenneth Feinberg to advise the company on its civil and legal responsibilities. He has made a career of resolving disputes and serving in a 'fixer' role, serving as the chief of the federal government's September 11th Victim Compensation Fund, as an administrator of compensation fund for victims of the BP Deepwater Horizon disaster and a similar fund for victims of the Boston Marathon bombing. Barra, who has been GM's CEO since January but been with the company since 1980, expects to meet with Feinberg on Friday, and have a concrete plan within the next 30-60 days. Yet Barra would not say for certain Tuesday that GM would compensate the victims at all. Despite repeated questions from Rep. Diana DeGette (D-Colo.), Barra did not outline the company's intentions. "I assume GM is hiring (Feinberg) to help identify the size of claims and then compensate the victims? Is that right," DeGette asked. "Is GM willing to put together some kind of a compensation fund for these victims that Mr. Feinberg will then administer?" "We've hired him to help assess the situation," Barra replied. "So really, there's no money involved at this point," DeGette asked.

Autotrader picks best cars for 2015's college grads

Summer is here and the school season is winding to a close. That means millions of students will be graduating college and (hopefully) entering the workforce. For many, that will mean buying a new car suited to the new stage in life into which they will now be embarking. That can be a bewildering choice, especially for someone who's never bought a car before. Fortunately, Autotrader has come up with a short list of recommended cars – new and used – which it recommends to the graduating class of 2015. Among the site's top choices are some compelling crossovers and hatchbacks, including the Buick Encore, Chevy Trax, and Jeep Renegade, as well as the Honda Fit, Nissan Versa Note, Mazda3 and Fiat 500. Can't stretch to buying new, or don't see the point? Autotrader has also identified the Toyota Camry, Ford Fusion and even the Lexus IS as smart buys in the certified pre-owned category. "Any time someone goes through a major life change, such as graduating college, they need to determine if their current ride makes sense for their lifestyle, from both a financial and functional perspective," says Autotrader editor Brian Moody. "For example, while that hand-me-down SUV from your parents was nice when you turned 16, you may want to opt for a safer, more fuel-efficient car as you transition into the working world." Autotrader Names 10 Best Cars for Recent College Graduates ATLANTA, May 28, 2015 /PRNewswire/ -- For many, graduating college is a milestone like no other – it represents a new chapter, a proud accomplishment and, fortunately or unfortunately, financial independence. Luckily for graduates who are in the market for a new car to suit their post-college lifestyle, Autotrader's expert editors say now is a great time to make a purchase, as dealerships are flush with affordable models that are fun, fuel-efficient and thoughtfully designed. Autotrader Logo "Any time someone goes through a major life change, such as graduating college, they need to determine if their current ride makes sense for their lifestyle, from both a financial and functional perspective," said Brian Moody, site editor for Autotrader.

Weekly Recap: BMW rolls out ambitious plug-in hybrid electric plan

"We believe that for the United States, this is going to be very important." – Julian Arguelles Let there be no doubt, BMW is serious about electric vehicles. The German automaker said this week it will make plug-in hybrid versions of all of its core models, an aggressive move that demonstrates its commitment to electric propulsion systems. BMW did not specify which vehicles will get the plug-in systems or provide a timeline for when they will arrive. But the announcement is clearly more than blustering, and the company revealed a 3 Series plug-in prototype this week at an event in France. BMW said the 3 Series uses a version of its 2.0-liter turbocharged four-cylinder engine (240 horsepower, 300 pound feet of torque) with an electric motor sandwiched between the engine and transmission in place of the torque converter. It has an all-electric range of 22 miles. A plug-in X5 with the same powertrain was also displayed alongside the 3 Series, though the X5 has been on the auto-show circuit for more than a year, including a recent stop in Los Angeles. Those two vehicles use "eDrive," and BMW's plans represent the first widespread transfer of its technology from development of the i3 and i8 models to more mainstream products. BMW said it's developing electric powertrains so they can be deployed rapidly across its range, and they are flexible enough to be used with fuel cells in future products. Enticingly, BMW is also working on a "Power eDrive" system, which debuted in a 5 Series GT concept at the event in France. This setup has two electric motors powered by a 20-kilowatt-hour battery pack, and when teamed with a four-cylinder turbo, pump out about 670 hp. Reinforcing BMW's commitment, the company will add more than 200 jobs at its factory in Dingolfing, Germany, to support electric-vehicle development. The moves come as BMW and other automakers diversify their portfolios while fuel economy and emissions regulations are getting tighter around the world. The United States has set a 54.5-mpg CAFE requirement for the 2025 model year. BMW said the electric vehicles were developed with an eye toward the US market, its government policies and its wide-ranging commuting styles. "We believe that for the United States, this is going to be very important," spokesman Julian Arguelles said. Ben Scott, a senior analyst in London with automotive research firm IHS, said BMW's moves are expensive – but necessary – to keep pace with the market.