Cars.com News Briefs: April 12, 2012

Here's what we've our eye on today:

• Federal investigators have extended a Jeep Wrangler probe to the 2007-09 and 2011-12 model years, The Detroit News reports. The National Highway Traffic Safety Administration opened the investigation late last month to seem into complaints of engine fires within the 2010 Wrangler and the 2011 Chevrolet Cruze. One other report of an engine fire within the Wrangler prompted NHTSA to research all years of the present-generation Wrangler, which was on sale since September 2006.
• Lamborghini will unveil an SUV concept at this month's Beijing Auto Show, German business daily Handelsblatt reports via Automotive News. China is an emerging marketplace for super-luxury vehicles, and Lamborghini, a subsidiary of the Volkswagen Group, desires to expand its lineup beyond the Gallardo and Aventador to draw new customers, CEO Stephan Winkelmann told Handelsblatt. The Italian brand could launch a production SUV by 2017, marking its first SUV for the reason that Humvee-like LM002 decades ago. It can share components with a forthcoming SUV from Bentley, another Volkswagen Group subsidiary.
• GM said gases venting from an experimental battery pack at its Warren, Mich., technical center caused Wednesday morning's explosion â€" not components involving the Chevrolet Volt, in response to The Detroit News. The explosion comes months after federal officials closed an investigation at the Volt for isolated fires. The explosion sent one employee to the hospital; a GM spokesman said the worker remained there overnight for observation.
• The Detroit News reports the U.S. Treasury lowered its projection Wednesday on auto bailout losses from $85 billion in 2009 to $21.7 billion. That's down about $2 billion from earlier projections. The lower number is thanks partly to GM stock, which has risen 19% this year. Still, the automaker's stock remains down 27% from its IPO price in November 2010. The Treasury still owns 26.5% of GM, down from 61% originally, and The Detroit News says it's unlikely the govt will sell its remaining GM shares until after November's elections. It stands unlike Chrysler, which the Treasury spent $12.5 billion bailing out and exited last year at a lack of $1.3 billion.

From WhatNewsToday.net

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