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This morning, General Motors announced an overhaul of its operations in 2019 which will involve cutting more than 10,000 workers and possibly closing five plants by the end of the year. GM said the cuts should boost cash flow by six billion by the end of 2020. “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future. We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success,” said GM Chairman and CEO Mary Barra in a statement. The plants up for possible closure are, Detroit-Hamtramck Assembly in Michigan - Home to Buick LaCrosse, Cadillac CT6, Chevrolet Impala, and Chevrolet Volt. Lordstown Assembly in Ohio - Home to Chevrolet Cruze. Oshawa Assembly in Ontario, Canada - Home to Cadillac XTS, Chevrolet Impala, and finishing production of last-generation Chevrolet Silverado and GMC Sierra Baltimore Operations in Maryland (Propulsion) Warren Transmission Operations in Michigan Hints of this announcement came out last night when reports from CTV and The Globe and Mail in Canada reported the closure of Oshawa. The plant closures also mean a number of models being dropped - including the LaCrosse, CT6, Impala, and Volt. The Cruze will be built in Mexico for other markets. It was expected GM was going to make some changes to address the underutilization of its plants. Dara from the Center for Automotive Research says GM represents 1 million of the 3.2 million units of underutilized capacity in the U.S. through October. This announcement comes on the eve of negotiations with the UAW next year and Unifor in 2020. The UAW has announced that it will challenge GM's decision "through every legal, contractual and collective bargaining avenue open to our membership." The announcement has brought pushback from politicians. Canadian Prime Minister Justin Trudeau expressed "deep disappointment" with the decision. U.S. Senator Rob Portman, a Republican from Ohio express frustration with the possible shutdown of Lordstown. One group not disappointed with the news is Wall Street. GM stock rose 6.18 percent to $38.00 per share at the time of this writing. Source: Automotive News (Subscription Required), Bloomberg, Reuters, Twitter, General Motors General Motors Accelerates Transformation Transforming the global enterprise to advance the company’s vision of Zero Crashes, Zero Emissions, Zero Congestion Taking cost actions and optimizing capital expenditures to drive annual run-rate cash savings of approximately $6 billion by year-end 2020 DETROIT – General Motors (NYSE: GM) will accelerate its transformation for the future, building on the comprehensive strategy it laid out in 2015 to strengthen its core business, capitalize on the future of personal mobility and drive significant cost efficiencies. Today, GM is continuing to take proactive steps to improve overall business performance including the reorganization of its global product development staffs, the realignment of its manufacturing capacity and a reduction of salaried workforce. These actions are expected to increase annual adjusted automotive free cash flow by $6 billion by year-end 2020 on a run-rate basis. “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future,” said GM Chairman and CEO Mary Barra. “We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success.” Contributing to the cash savings of approximately $6 billion are cost reductions of $4.5 billion and a lower capital expenditure annual run rate of almost $1.5 billion. The actions include: Transforming product development – GM is evolving its global product development workforce and processes to drive world-class levels of engineering in advanced technologies, and to improve quality and speed to market. Resources allocated to electric and autonomous vehicle programs will double in the next two years. Additional actions include: Increasing high-quality component sharing across the portfolio, especially those not visible and perceptible to customers. Expanding the use of virtual tools to lower development time and costs. Integrating its vehicle and propulsion engineering teams. Compressing its global product development campuses. Optimizing product portfolio – GM has recently invested in newer, highly efficient vehicle architectures, especially in trucks, crossovers and SUVs. GM now intends to prioritize future vehicle investments in its next-generation battery-electric architectures. As the current vehicle portfolio is optimized, it is expected that more than 75 percent of GM’s global sales volume will come from five vehicle architectures by early next decade. Increasing capacity utilization – In the past four years, GM has refocused capital and resources to support the growth of its crossovers, SUVs and trucks, adding shifts and investing $6.6 billion in U.S. plants that have created or maintained 17,600 jobs. With changing customer preferences in the U.S. and in response to market-related volume declines in cars, future products will be allocated to fewer plants next year. Assembly plants that will be unallocated in 2019 include: Oshawa Assembly in Oshawa, Ontario, Canada. Detroit-Hamtramck Assembly in Detroit. Lordstown Assembly in Warren, Ohio. Propulsion plants that will be unallocated in 2019 include: Baltimore Operations in White Marsh, Maryland. Warren Transmission Operations in Warren, Michigan. In addition to the previously announced closure of the assembly plant in Gunsan, Korea, GM will cease the operations of two additional plants outside North America by the end of 2019. These manufacturing actions are expected to significantly increase capacity utilization. To further enhance business performance, GM will continue working to improve other manufacturing costs, productivity and the competitiveness of wages and benefits. Staffing transformation – The company is transforming its global workforce to ensure it has the right skill sets for today and the future, while driving efficiencies through the utilization of best-in-class tools. Actions are being taken to reduce salaried and salaried contract staff by 15 percent, which includes 25 percent fewer executives to streamline decision making. Barra added, “These actions will increase the long-term profit and cash generation potential of the company and improve resilience through the cycle.” GM expects to fund the restructuring costs through a new credit facility that will further improve the company’s strong liquidity position and enhance its financial flexibility. GM expects to record pre-tax charges of $3.0 billion to $3.8 billion related to these actions, including up to $1.8 billion of non-cash accelerated asset write-downs and pension charges, and up to $2.0 billion of employee-related and other cash-based expenses. The majority of these charges will be considered special for EBIT-adjusted, EPS diluted-adjusted and adjusted automotive free cash flow purposes. The majority of these charges will be incurred in the fourth quarter of 2018 and first quarter of 2019, with some additional costs incurred through the remainder of 2019.

For those wondering when Bentley was planning to introduce a drop-top version of the second-generation Continental GT, wonder no more. This week, Bentley has revealed the 2019 Continental GT Convertible. There isn't any significant design changes aside from the roof being lopped off. The new power-folding soft top opens and closes in 19 seconds at speeds up to 30 mph. Bentley is offering a tweed option for the roof. The interior is lavishly appointed with impressive materials and a new neckwarmer system to keep warm when the top is down. Power comes from a 6.0L twin-turbo W12 producing 626 horsepower and 664 pound-feet of torque. This is paired with an eight-speed dual-clutch transmission and all-wheel drive. 0-60 mph takes 3.7 seconds - just a tenth slower than the coupe. Not bad since the convertible comes in a hefty 5,322 pounds. Bentley hasn't announced a launch timeframe or price for the Continental GT Convertible. Gallery: 2019 Bentley Continental GT Convertible Source: Bentley ALL-NEW BENTLEY CONTINENTAL GT CONVERTIBLE: THE PINNACLE OPEN-TOP GRAND TOURER Third generation model represents all Bentley knows about creating the world’s definitive Grand Tourers Beautiful, roof up or down, GT Convertible’s flowing, elegant exterior styling is accented with muscular, sculptural lines Finest handcrafted materials and in-car technologies harmonise to create a connected, personalised cabin Bentley Rotating Display offers customers option of a digital detox Elegantly tailored convertible roof sweeps open in 19 seconds to reveal exquisite, luxurious handcrafted interior Contemporary tweed Convertible roof available for the first time Serenity and style: unique Z-fold roof offers sportier appearance and three-decibel noise reduction New Convertible GT cabin as quiet as previous generation Coupe model All-season open-top Grand Touring enabled thanks to sophisticated luxury features Powerful and responsive driving experience from 635 PS W12 engine, eight-speed dual-clutch transmission and latest chassis technologies Convertible body-in-white now 20 per cent lighter, five per cent stiffer 0-100 km/h in 3.8 seconds (0-60 mph in 3.7 seconds); top speed of 333 km/h (207 mph) (Crewe, 26 November 2018) Bentley is introducing the all-new Continental GT Convertible. Designed, engineered and handcrafted in Britain – and representing all Bentley knows about creating the world’s most stylish and elegant Grand Tourers – the GT Convertible is the very essence of the luxury brand. Adrian Hallmark, Chairman and Chief Executive, Bentley Motors, said: “Elegant understatement that forces you to look; engineering excellence you’ll take for granted – the extraordinary breadth of capabilities offered by the new Continental GT Convertible is unique and can only be offered by our noble British brand. We have been building luxury Grand Tourers since the company was founded in 1919 and, as we approach our centenary year, the Continental GT Convertible joins a highly acclaimed range – arguably the strongest and most technologically advanced portfolio of products the world has ever seen in one luxury brand.” Elegant and sculptural exterior styling harmonises perfectly with an exquisite handcrafted cabin, featuring the highest quality leathers and sustainably sourced veneers. The tailored convertible roof can be deployed or stowed in just 19 seconds, with the car travelling at speeds of up to 30 mph (50 km/h). This transforms the Continental GT Convertible from a luxurious coupe into an open-top Grand Tourer at the touch of a button. Seven different fabric hood colours are available, including an authentic tweed finish for the first time. A newly designed neckwarmer (which is both warmer and quieter than in the previous generation model), is seamlessly integrated into the heated Comfort Seats, optimising efficiency and airflow around the electrically adjustable headrests. The styling highlight of the new neckwarmer is a chrome centre vane that stretches the full width of the duct, echoing Bentley’s famous ‘bullseye’ vents. Combined with a heated steering wheel, seat heaters and new heated armrests, these sophisticated comfort features create a luxurious driving experience in all environments. The all-new Continental GT Convertible heightens the sensory experience of open-air motoring with exhilarating performance. A powerful 6.0-litre Bentley W12 engine is mated to a dual-clutch eight-speed transmission. [WLTP drive cycle: fuel consumption, mpg (l/100km) - Combined 20.2 (14.0). Combined CO₂- 317g/km. NEDC drive cycle equivalent: fuel consumption, mpg (l/100km) – Combined 22.8 (12.4). Combined CO₂ - 284g/km.] The new powertrain uses the latest engine management technology to produce 635 PS (626 bhp) and 900 Nm (664 lb.ft.) of torque, and accelerate to 100 km/h in 3.8 seconds (0-60 mph in 3.7 seconds), on to a top speed of 333 km/h (207 mph). The new Continental GT Convertible also showcases major evolutions in Bentley’s unique application of technology. An advanced, fully digital, driver-focused instrument panel and Bentley Rotating Display for the driver are among the suite of innovations. The latter features an impressive 12.3” touchscreen housed in a three-sided unit, which revolves from pure veneer to reveal either a touchscreen or three elegant analogue dials – offering customers the option of a digital detox when desired. Elegant, sophisticated and refined, the all-new Continental GT Convertible is the pinnacle of open-top luxury Grand Touring. Effortless Elegance Meets Power and Style Unmistakably a Bentley – the third generation Continental GT Convertible retains the elegance and style of its forebears. More sculpted and sharply defined, the all-new body and materials combine to create a truly beautiful car – roof up or down. The Convertible’s profile is longer and lower than its forebear due to the positioning of the front wheels 135 mm further forward. This has allowed the bonnet to be extended and the nose to be lowered. The key signature power lines of its coupe sibling still dominate, flowing back towards the muscular rear haunches. The lighting on the Continental GT Convertible uses the latest LED Matrix technology, but it is the design of the headlamps that truly sets them apart. Inspired by the finest cut-crystal glasses, the internal surfaces are transparent with sharply defined edges that catch the light like a diamond. The result is similar to that of an illuminated gem – an effect which is magnified when the optional welcome sequence gradually illuminates the headlights as you approach the car. The taillights also feature the cut-crystal effect, highlighting the three-dimensional depth of the optics. The all-new Continental GT Convertible has 21” Five Tri-Spoke wheels as standard, with the option of 10-Spoke and 22” Five Open-Spoke wheels. These three wheel designs are offered in a selection of ten polished and painted finishes. Convertible customers can choose from the palette of 17 colours, including Beluga, Onyx and Portofino. An optional extended range of colours is also available – as well as the option of full bespoke colour-matching for Bentley customers. These can be coordinated with seven exterior roof colours. A Handcrafted Luxurious Cabin The exquisite interior of the all-new Continental GT Convertible is a showcase for Bentley’s unrivalled expertise in the use of natural materials, fully revealed to the world when the elegant roof is lowered. From the highest-quality leathers, to rare, sustainably sourced veneers, such as Koa and Dark Fiddleback Eucalyptus, the cabin is a triumph for craftsmanship and artisanal skill. Unique dual-veneer is offered, with over 10 square metres of wood used in every car. Customers have the choice of a polished wooden steering wheel too. The dashboard is styled and sculpted by long, flowing wings that mirror the shape of the Bentley badge. Continental GT Convertible customers can choose from eight interior hood lining colours, including Red, Blue and Magnolia. The centre console is finished to match the lower fascia, but can be specified in a new technical finish that is inspired by the delicate mechanical surfacing inside the finest mechanical Swiss watches, known as Côtes de Genève. This surface is machined onto 0.6 mm-thick aluminium and is created by machining from side to side to create a linear pattern. Each row is 5 mm wide and machined at an angle to give a truly three-dimensional finish, with each pass of the machine making a minute step of 0.5 mm. New types of luxurious haptic finishes adorn the interior of the Continental GT Convertible for greater sensory, as well as visual, enjoyment. In some areas, pillow knurling replaces the traditional mechanical knurling, for a softer, more refined feel on switches and controls, while diamond knurling adds a luxurious touch using a detailed three-dimensional faceted surface. The 20-way adjustable Comfort Seats set new industry standards in comfort and refinement. Smooth centre panels allow maximum efficiency for the ventilation, heating and massage functions, while the adjustable bolsters retain the signature Bentley quilting. There is also the option of Hand Cross Stitch finishing. A choice of three audio systems is offered in the new Continental GT Convertible. The standard system features 10 speakers and 650 Watts, while a Bang & Olufsen 1,500 W, 16-speaker system with illuminated speaker grilles is available, benefiting from the first automotive application of the BeoSonic system – a new way for tone setting with a simple, intuitive one-touch user interface. A Naim 2,200 W, 18-speaker system with Active Bass Transducers built into the front seats and eight sound modes is offered for the true audiophile. Behind the wheel, the technological advancements in the new Continental GT Convertible continue. The driver-orientated instrument panel is fully digital and can be personalised by the driver. The Bentley Rotating Display offers the choice between a digital or analogue journey. At first glance there appears to be no screen in the centre of the dashboard. Instead, the veneer flows uninterrupted across the dashboard, while a thin chrome bezel behind the steering wheel surrounds a digital instrument display. When the engine start button is pressed, however, the veneer in the middle of the dashboard glides silently forward and rotates to reveal Bentley’s largest-ever touchscreen, a 12.3” high-definition-quality digital MMI display, elegantly designed by Bentley with a customer-configurable home screen with three windows able to display the driver’s preferred functions, for example, navigation, media and telephone. The user interface is designed to be akin to a modern mobile phone and menus are structured to be instantly intuitive. The third side on the Bentley Rotating Display reveals three elegant analogue dials displaying outside temperature, a compass and chronometer. Such an innovative use of traditional elements underscores Bentley’s unique commitment to the past and the future, and offers customers the choice of digital or analogue display or clean, calm cabin. The new Continental benefits from features designed to keep both driver and passengers connected at all times. Apple CarPlay, the smartest and quickest way to integrate the functionality of Apple devices in a car is connected via a USB port. Customer journeys are streamlined with features designed to improve navigation. Online search, powered by Google makes finding destinations simple, while real-time traffic information keeps the driver informed of current length or changes in congestion. In emergency situations, Private eCall provides instant access to emergency services for ultimate peace of mind when travelling. Exceptional Optionality including a Tweed Convertible Roof The all-new Continental GT Convertible redefines personalisation with paint, leather, veneer and lifestyle options that are virtually unlimited and tailored to the individual. The standard palette alone comprises 17 exterior paint colours, with up to 70 hues available in the extended range. There are also 15 luxurious carpet options, eight different handcrafted veneers (with a further four dual veneer options) and 15 choices of interior trim hide, which means that customers are able to specify their own choice of luxury finish. Seven exterior roof colours are available, including for the first time a contemporary interpretation of traditional British tweed. Black, Blue, Claret and Grey are among the other options. Furthermore, eight interior roof liner finishes are offered, ranging from New Red to Magnolia. The unique Z-fold convertible roof system represents a major improvement both in terms of refinement and packaging. The roof, with its sealing system improvements and acoustic treatments, contributes to a three-decibel reduction in overall noise levels compared to its predecessor at typical cruising speeds. An entirely new combination of roof insulating materials and operating mechanism, combined with sealing system improvements and acoustic treatments, have created a Convertible Grand Tourer that is as quiet as the previous generation Continental GT Coupe. Two technology option packs are offered at launch: City Specification for urban journeys and the Touring Specification for long-distance driving, both curated to optimise the customer experience. City Specification includes hands-free boot opening, pedestrian warning, traffic-sign recognition and city braking systems as well as a top-view camera. The Touring Specification pack, meanwhile, offers adaptive cruise control with traffic-jam assist, active lane assist, a heads-up display, night vision with an infrared camera, and pre-sense braking. The Mulliner Driving Specification adds a more sporting look to the car with 22” lightweight forged alloy wheels, unique ‘diamond in diamond’ quilting, embroidered Bentley emblems, additional veneer options, a jewelled-finish fuel filler, sports pedals and indented leather headliner. Customers can also choose personalised stitching in the front and rear of the car and personalised treadplates. As with all Bentleys, the Continental GT Convertible can also be handed over to the highly skilled and dedicated craftspeople at Mulliner, Bentley’s personal commissioning division, who will respond to bespoke customer requirements. Sublime Power: The Beating Heart of Bentley The all-new Continental GT Convertible is offered at launch with Bentley’s 6.0-litre, W12 TSI engine. Designed, developed and handbuilt in Crewe, it is the most advanced 12-cylinder engine in the world. The new powertrain uses the very latest engine management technology, with 300 million software calculations per second. It produces 635 PS (626 bhp) and 900 Nm (664 lb.ft.) of torque, accelerating the Convertible to 100 km/h in 3.8 seconds (0-60 mph in 3.7 seconds), on to a top speed of 333 km/h (207 mph). The W12 TSI combines high-pressure direct fuel injection with low-pressure injection. The combination of these two systems maximises refinement, lowers particulate emissions and optimises power and torque delivery. [WLTP drive cycle: fuel consumption, mpg (l/100km) - Combined 20.2 (14.0). Combined CO₂- 317g/km. NEDC drive cycle equivalent: fuel consumption, mpg (l/100km) – Combined 22.8 (12.4). Combined CO₂ - 284g/km.] The new engine utilises Start-Stop technology and, in Bentley’s advanced application, coasting is also made possible. The engine rests not only when the vehicle is stationary but also at near-to-stop speeds. Bentley’s Variable Displacement system shuts down half of the engine under defined conditions. Intake and exhaust valves, fuel injection and ignition are all shut down on defined cylinders, with the engine running as a six-cylinder for improved efficiency. Significantly, a new dual-mass flywheel replaces the torque converter, to dampen out the oscillations of the driveline and provide a fittingly smooth power delivery for luxury touring. The dual-clutch eight-speed transmission provides smooth acceleration and impressively quick gearshifts, hallmarks of the Continental GT character, as well as combined fuel economy of 22.8 mpg (UK) or 12.4 L/100 km (NEDC combined). A new Active All-Wheel-Drive System replaces the traditional 40:60 power delivery split between front and rear wheels respectively, instead varying the front-to-rear torque split dependent upon the driving situation. Unrivalled Grand Touring Ride and Handling The third generation of Continental GT Convertible features Bentley Dynamic Ride, an advanced 48-volt roll control system for unrivalled car control. The system controls and adjusts the electronic actuators on the anti-roll bar of each axle and so improves handling and ride comfort, as well as making the car feel lighter and more precise. This system instantly counteracts lateral rolling forces when cornering and ensures maximum tyre-to-road contact to deliver class-leading ride comfort and exceptional handling. While conventional anti-roll bars present a compromise between body control and ride comfort, Bentley’s active system provides variable torsional resistance, allowing the Continental GT Convertible to be both dynamically capable and comfortable for all occupants at all times. The use of a 48-volt system results in silent, instantaneous responses and sufficient power on hand to deal with all road surfaces. Through Bentley’s Drive Dynamics Control different modes can be selected: Comfort mode, Bentley mode or Sport mode; the suspension, engine, gearbox and other chassis systems will modify to match the selected drive mode. Alternatively, the driver can personalise his or her own dynamic settings. The air suspension on the new Continental GT Convertible uses three-chamber air springs which give the car 60 per cent more air volume in the softest setting than the previous model. This allowed Bentley’s engineers more scope for tuning the suspension to improve the ride comfort and dynamic character of the car. The system offers the scope to vary from sporting spring stiffness to luxury limousine refinement depending upon which mode the driver has selected. As a foundation for this impressive handling, the Continental GT Convertible boasts a body-in-white structure that manages to be both stiffer and lighter than its predecessor. This five per cent improvement in torsional rigidity and 20 per cent reduction in structural weight are achievable thanks to the intelligent utilisation of aluminium and high-tensile steel in the platform. Electric Power-Assisted Steering (EPAS) is also featured on the Continental GT Convertible. The new system improves feedback to the driver, while providing isolation from unwanted road disturbances. The steering system features a variable rack ratio, allowing increased response with higher steering angles to aid manoeuvrability whilst maintaining excellent stability at high speeds. Another key feature is the latest-generation Continuous Damping Control (CDC), which constantly adjusts the damper forces to optimise comfort. The system continually measures the velocity and distance between the wheels and the body at each corner and also adjusts the air volume in the springs if necessary to ensure the optimum balance of comfort and handling. Both front and rear axles are of a lightweight aluminium construction, with multilink design at the front and rear. The braking system is the most powerful iron system ever fitted to a Bentley, with a total of 28 pistons. Front brake discs measuring 420 mm are a two-piece construction utilising a cast-iron friction ring and aluminium mounting bell. Front calipers feature ten pistons each, while rear calipers contain four pistons each that clamp 380 mm single-piece discs. Brakes of this scale provide the reliable, repeatable stopping performance inherently important to a 200+ mph sporting Grand Tourer. Bentley has worked together with Pirelli to create bespoke tyres for the new Continental GT Convertible right from the very beginning of the design phase. The car runs exclusively on Pirelli P Zero tyres, using a different tyre size between front and rear axles for the first time, to enhance dynamic ability. During the development process, Pirelli’s engineers sat alongside their counterparts from Bentley, driving and refining the car-tyre package until the perfect balance was reached between performance and comfort. The latest material compounds help the tyre respond more directly to driver inputs, ensuring a dynamic experience that is balanced and communicative. The P Zero tyre fitted to the Bentley also has Pirelli’s Noise Cancelling System which reduces road noise coming into the cabin. At the same time, rolling resistance is also improved on the latest P Zero tyres, creating less friction against the road without compromising grip. As a result, both wet and dry grip represent a step forward, with a noticeably reduced risk of aquaplaning.