Week in Review: Resurrections and Investigations

This week brought us some pretty big news stories, and for the end of a month, that's saying something. Fisker has risen from the ashes of its bankruptcy and will be opening its doors once again by the end of 2014. Chevrolet showed us just how the 2014 Camaro Z/28 literally flew across the Nurburgring thanks to a new stability system. The "Need for Speed" commercial featuring the 2015 Ford Mustang dropped. Volkswagen had to put a hold on its potential budget brand, but perhaps the biggest story of the week was the NHTSA investigation into General Motors for a delayed recall on an issue that cost almost a dozen people their lives. We've gathered the top stories of the week to keep you updated on everything happening in the auto industry.

Monday, February 24

Rising from the ashes, Fisker will once again open its doors. China's Wanxiang Group bought the company after out-bidding a rival company, and it hopes to have the automaker up and running later this year. The electric automaker originally closed its doors as it wasn't able to build its vehicles after its battery supplier, A123, went bankrupt. However, Wanxiang has also purchased the battery company. Fisker, during its short run, managed to sell only 1,800 luxury electric vehicles in 2012. Its new owners hope to sell more than that. "Obviously we want to sell more than what Fisker sold before under its previous management," said Pin Ni, Wanxiang Group U.S. head, to Reuters. We just hope this time around that the automaker will stay afloat.

Tuesday, February 25

We've been hearing about the great performance of the all-new 2014 Chevrolet Camaro Z/28 and how it beat lap times of some pretty amazing cars at the Nurburgring, but just how did it do that? Thanks to the Performance Traction Management system, the Z/28 literally flies over the track. And when the car literally goes flying over a hill at 150 mph, most stability controls would kick on, even if stability control was turned off. PTM will keep power going to the wheels when other stability control systems wouldn't. It makes fast drivers even faster, and it is something we would love to see in action. The 2014 Chevrolet Camaro Z/28 will hit dealers later this year, and will satisfy those who live for the track and drivers who love fast cars.

Wednesday, February 26

With the new "Need for Speed" movie coming out, Director Scott Waugh put together a co-branded commercial featuring the new 2015 Ford Mustang, which will be the hero car in the film. The new advertisement will hit theaters and television by the end of February. To create the Mustang seen in the film, Ford engineers and designers worked around the clock to create a custom body kit and dropped a high-output V-8 engine under the hood. Thanks to a paint scheme and wider stance, the 2015 Mustang looks menacing and fast, even when parked. Along with the new commercial, Waugh is calling fans to submit stories about where they'd take the new Mustang, and the best stories will be turned into short films.

Thursday, February 27

Safety is one of the most important factors when shopping for cars, and when that's ignored by an automaker, it becomes a pretty big deal. General Motors finally issued a recall on select vehicles for faulty ignition switches, something that the company has known about since 2004 when the Chevy Cobalt and Pontiac G5 went on sale. Since GM didn't do anything to resolve the issue, 31 accidents and 13 deaths have been reported in conjunction with this issue. The NHTSA has opened a probe against the company to see just why it took so long to report. GM could potentially be fined up to $35 million for this delay, and this isn't the first time the company has done something like this.

Friday, February 28

Volkswagen Group has been trying to build a budget brand, and thanks to the senior management's "necessities," the cost is too high to make the possible brand worthwhile. The company has been struggling with finding a balance between its targeted budget and the level of safety and quality in the vehicles. Even with the issues, Volkswagen Group has not canceled or suspended the project, but put it on hold until a solution can be found. With a new budget brand under its belt, Volkswagen group would be able to enter new, lucrative markets, along with expand its reach into markets in which it is already a favorite.
 
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