Daily Car News Bulletin for May 19, 2016
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General Motors Compensation Plan
General Motors plans to compensate 170,00 owners of large SUV and crossovers with stickers that overstated their fuel economy report, a statement came right after the class action lawsuit was filed in federal court, with a potential settlement over $200 million. GM representatives say it was an inadvertent error, 2016 Chevrolet Traverse, GMC Acadia, and Buick Enclave are overstating their fuel economy by 1-2 miles per gallon.
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Tesla Sales
Tesla CEO Elon Musk surprised investors with his decision to accelerate the introduction of the Model 3, with plans to sell 2 billion dollars in stock to help finance a launch of its new Model 3 Electric sedan. The company says it plans to make 500,000 Model 3 a year by 2018, and with a very high demand, with more than 300 thousand reservations, it will no be difficult.
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Fuel Cell Vehicles
Honda, Toyota, and Hyundai are planning to launch a hydrogen vehicle in the future. They believe that hydrogen, and not batteries, are the future of green transportation, but with poor adaptation in current market plug-in hybrids is necessary stepping stones. Of the three automakers, Toyota potentially has the biggest head start, due to a four regular hybrids that it could adapt as PHEVs. Honda’s next-generation CR-V, which is due next year, is a likely candidate to have a plug-in hybrid variant.
