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GM offering factory-backed extended warranty for Chevys, GMCs, Buicks and Cadillacs

Cars are generally more reliable than ever before. When things do go wrong, every automaker offers some form of factory warranty (in most cases at least three years and 36,000 miles, though many extend even longer), providing peace of mind to new-car buyers that many faults will be fixed at no charge to the customer. Starting today, GM is offering a new optional plan that will extend the factory warranty on all new Chevy, GMC, Buick and Cadillac products. In the past, extended warranties have been offered as dealer add-ons, with all profits from these sales going to the dealership. GM's new program can be viewed as another nail in the the looming dealership-model coffin. According to Automotive News, some dealers aren't happy to see GM cut into their business like this, saying that it helps GM far more than it does dealers. GM says the new program will help keep customers in the GM family. Customers are also more likely to visit a GM service center rather than going to an independent repair shop. Currently, new Chevy and GMC vehicles come with three-year/36,000-mile warranties. Buicks and Cadillacs are covered for 4 years or 50,000 miles. The new program extends Chevy and GMC warranties to five years or 60,000 miles. Buick and Cadillac warranties extend to six years or 70,000 miles. GM, citing IHS Markit, says most owners keep new cars for about 6.8 years, so these warranties will cover most of the length of their ownership. The extended warranty will add between $1,000 and $2,000 to the price of a vehicle, and the additional cost can be rolled into the vehicle's purchase or lease price. Unlike many dealer extensions, the factory program covers the vehicle no matter who owns it. That should help increase the car's resale value if it's sold within the covered timeframe. GM says there's no deductible and no need to file a claim form when getting warranty repairs. Additionally, dealerships can continue to sell their own extended warranties or service contracts. Related Video:

Outrageous Thor24 semi truck to appear in the new season of 'Jay Leno's Garage'

Wednesday is Jay Leno's birthday, and CNBC used the occasion to announce the upcoming season of Jay Leno's Garage. In a new teaser video, Leno is seen with a stacked list of guests, some new, some repeats, as well as a wild gamut of vehicles, including the absolutely insane 24-cylinder, 3,424-horsepower Thor24.  The outrageous semi build, which sold at auction in Saudi Arabia earlier this year for a whopping $12 million (or $1 million per supercharger) will join the likes of the Tesla Cybertruck and a recliner on wheels on the upcoming season of Jay's series.  Thor24 View 24 Photos The formula for Jay Leno's Garage is simple, successful, and not changing anytime soon. He brings out a bunch of famous people, some of which are real enthusiasts, others who have more casual driving backgrounds, and they experience a vehicle together. In the short clip released by CNBC, Leno is accompanied by Elon Musk (again), Danny Trejo, Bill Burr, Tim Allen, Jon Hamm, Brad Garrett, Jeff Dunham, Kelly Clarkson, Matt LeBlanc, Blake Shelton, Norm MacDonald, Edd China, and Jon Lovitz.           View this post on Instagram                   Thank you for sharing your dream with us. Happy Birthday, Jay! Love always, your @cnbcprime Family. A post shared by Jay Leno's Garage (@jaylenosgarage) on Apr 28, 2020 at 8:27am PDT The people, however, are merely social lubricants to spotlight the real stars of the show, the cars. This season will include the Tesla Cybertruck, the record-breaking Bugatti Chiron Super Sport 300+, a 1965 Buick Riviera, a naked cat car, an Aston Martin DBS Superleggera, a Porsche Taycan, a modern Ford GT, a Chevrolet Corvette C8 hard-top convertible, amphicars, a snail car, a beetle car, a couch car, and the 24-cylinder, 12-supercharger, 3,424-horsepower Thor24 semi. Just to name a few. As usual, there will be racing, stunts, spinouts, smoke from both tires and engines, and lots of silly dad jokes. Season 5 of Jay Leno's Garage debuts on CNBC on May 20 at 10 p.m. ET. Related Video: Celebrities Green TV/Movies Aston Martin Bugatti Chevrolet Tesla Special and Limited Editions Jay Leno Jay Lenos Garage

Former Fisker CEO has some advice for Tesla Motors

Former Fisker Automotive CEO and ex-Chevrolet Volt vehicle-line director Tony Posawatz has some words of caution for Tesla Motors. The long-time automaker executive questions the California automaker's long-term viability – and gives some praise – in a talk with Benzinga, which you can listen to below. While the all-wheel-drive D that Tesla unveiled earlier this month in Southern California wowed a packed crowd, Posawatz (starting at around minute 4:45 in the interview) says Tesla would've been better off taking the resources it expended toward that Model S upgrade and directed them towards speeding up the development of a more affordable plug-in. Perhaps a number of investors agreed, since the company's stock fell the day after the D was announced. Posawatz says Tesla has been over-reliant on the sale of ZEV credits. Posawatz also says that Tesla has been over-reliant on the sale of zero-emissions vehicle credits in California for its earnings and questions whether the automaker will ever work at a large enough scale to sufficiently drive down costs and make consistent profits. Tesla CEO Elon Musk would take issue with this characterization. Posawatz first made his mark in the plug-in vehicle world when he was the vehicle-line director at General Motors for the Volt extended-range plug-in from 2006 to 2012. Later that year, he joined extended-range plug-in maker Fisker Automotive as its CEO, though quit that job during the summer of 2013 as the company was descending into insolvency. He joined the Electrification Coalition this past March. News Source: Benzinga Green Chevrolet Fisker Tesla Electric PHEV Tony Posawatz