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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.

Autoblog Podcast #389

Episode #389 of the Autoblog podcast is here, and this week, Dan Roth, Chris Paukert, and Mark Pereira from Autoblog Canada talk about Johan deNysschen's move to Cadillac, rumors of more BMW nomenclature changes, a second generation for the Subaru BRZ, and cars from 2004 that we miss. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #389: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: Johan de Nysschen moves to Cadillac BMW model designations changing even more Subaru BRZ getting second generation Cars We Miss In the Autoblog Garage: 2014 Ducati 899 Panigale 2015 Hyundai Sonata 2015 Volkswagen GTI 2015 Chevrolet Silverato 2500 Diesel Hosts: Dan Roth, Chris Paukert, Mark Pereira Runtime: 01:59:10 Rundown: Intro and Garage - 00:00 Johan deNysschen - 36:12 BMW Nomenclature - 53:58 BRZ - 56:27 Cars We Miss - 01:05:07 Q&A - 01:30:09 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Auto News Hirings/Firings/Layoffs Podcasts BMW Cadillac Chevrolet Hyundai Subaru Volkswagen

Chevy teases next-gen Volt at fan event in LA

Barely two months before its planned debut at the 2015 North American International Auto Show, Chevrolet has released yet another batch of teaser images of its second-generation Volt. Unlike the first image, though, which just showed the car's rear badge, there's a lot more to this quartet of shots. The first three images show off the nose of the next-gen model and come from a fan event in Los Angeles. What we can see is a sleeker front end, with an evolution of the silver grille inserts previously seen on the original Volt and Spark EV. Gone is the current car's split upper grille, in favor of a more conventional arrangement. The sharper, more angular headlights are also an evolution of the lamps seen on the current Volt. Chevrolet also took the opportunity to announce a new location-based charging system that uses GPS to adjust the vehicle's charge settings, including the charge level, while also announcing that the next-gen car will feature more intuitive charge indicators that will be better able to inform owners of their car's charging level. The tech will mean that the Volt 'knows' when it is parked at home, and can thus automatically optimize charging for off-peak times, and so on. Take a look at the teaser images at the top of the page, and then head below for Chevy's press release announcing the new features. Next-Gen Chevy Volt Offers More User-Friendly Charging 2014-11-20 GPS makes charging more convenient Portable charger is easier to access Intuitive visual cues show charge status DETROIT – If there's one thing Chevrolet Volt owners love about their cars, it's being able to recharge the battery easily. Evidence of that is a U.S. Department of Energy study that shows more than 80 percent of all trips by Volt owners did not use the range extender. Chevrolet has made the charging system in the next-generation Volt even easier for customers to recharge the battery – and to check the charge status. The next-generation Volt debuts in January at the North American International Auto Show. "Chevrolet used the real-world experiences of today's Volt owners to make the charging process simpler and more convenient in the next-generation Volt," said Andrew Farah, chief engineer for the Volt.