1971 Chevrolet El Camino on 2040-cars

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Officially Official: Chevrolet replaces Daewoo name in Korea

Chevrolet Camaro in Korea - Click above for high-resolution image

There once was a time when Daewoo was one of the biggest companies in South Korea. It was larger than both LG and Samsung, and second only to Hyundai. But these days the name is all but gone.

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order:

GM recalls 83,572 SUVs for ignition switch issue

General Motors is recalling 83,572 SUVs from the 2011 and 2012 model years over a potential ignition lock actuator issue. In affected vehicles, the actuator isn't the right size, which could cause the ignition to get stuck in the "Start" position, and then either due to a jarring event or a "cool interior temperature" the ignition could switch back to the "Accessory" position. Doing so would cause a loss of power assistance and the airbags might not deploy. This is a different ignition issue than the one that's been ongoing for the past year. GM said it expects that less than 500 vehicles suffer from the problem, but that the pool could include vehicles from 2007 through to 2014 that have already been fixed, but with defective parts. The 2011-2012 SUVs included in the National Highway Traffic Safety Administration notice: Cadillac Escalade, Escalade ESV, Escalade EXT, Chevrolet Avalanche, Silverado HD, Silverado LD, Suburban, Tahoe, GMC Sierra LD, Sierra HD, Yukon, and Yukon XL vehicles. GM will notify owners and dealers will inspect the ignition lock housing to see if it needs a free replacement. RECALL Subject : Ignition Lock Actuator may Bind Report Receipt Date: DEC 30, 2014 NHTSA Campaign Number: 14V827000 Component(s): ELECTRICAL SYSTEM Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2011-2012 Cadillac Escalade, Escalade ESV, Escalade EXT, Chevrolet Avalanche, Silverado HD, Silverado LD, Suburban, Tahoe, GMC Sierra LD, Sierra HD, Yukon, and Yukon XL vehicles. In the affected vehicles, the ignition lock actuator may bind, making turning the key difficult or causing the ignition to get stuck in the "Start" position. CONSEQUENCE: If stuck in the "Start" position, the ignition may suddenly snap back into the "Accessory" position, causing a loss of engine, steering, and braking power, increasing the risk of a vehicle crash. If the vehicle is in a crash, the air bags may not deploy, increasing the risk of occupant injury. REMEDY: GM will notify owners, and dealers will inspect and replace the ignition lock housing, as necessary, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact GM customer service at 1-800-458-8006 (Cadillac), 1-800-222-1020 (Chevrolet), or 1-800-462-8782 (GMC). GM's number for this recall is 14696 for the original equipment, and 14912 for the service replacement parts.