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Found 344 results

  1. General Motors will soon be exiting two more global marketplaces. This morning, the company announced that it would be cease selling vehicles in India and end its operations in South Africa by the end of this year. “As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company. We are committed to deploying capital to higher return initiatives that will enable us to lead in our core business and in the future of personal mobility," GM CEO Mary Barra said in a statement. As we reported back in March, GM said it was "considering reducing investments in North American cars and "select" international markets" during a call with analysts. At the time, GM was keeping quiet what markets could see cuts. “Recent actions by General Motors demonstrate clearly it is not the GM of old. Today's GM management is correctly focused on profits, not sales volume and market share. It has shown a willingness to cut its losses if there's no clear path to profitability and market dominance," said Michelle Krebs, executive analyst for Autotrader to the Detroit Free Press. India In India, the decision to end sales doesn't come as a surprise. Despite being one of the first automakers to enter the market, sales of Chevrolet vehicles (only GM brand to be sold) never made a dent. Autocar India reports that sales from March-April 2017 dropped 6,717 units to 25,823. Market share also saw a sharp drop from 1.17 percent to 0.85 percent. Analysts tell Reuters the part of the reason GM wasn't able to make any inroads into India was failing "to launch low-cost yet feature-rich vehicles that Indian buyers prefer." Also the high servicing costs drew many people away. “We determined that the increased investment required for an extensive and flexible product portfolio would not deliver a leadership position or long-term profitability in the domestic market,” said Stefan Jacoby, executive vice president and president for GM International. General Motors isn't leaving India entirely. The company will still operate its tech center in Bangalore and transition of its two assembly plants to building vehicles for export. The other assembly plant will be sold to their joint venture partner in China, SAIC. "We are not giving up benefits India offers as a local cost manufacturing hub with an excellent supplier base which is extremely competitive," said Jacoby. South Africa In South Africa, General Motors will cease selling Chevrolet vehicles and transition their operations to Isuzu. This includes the purchase of GM's light commercial vehicle assembly plant in Port Elizabeth, along with control of GM's Parts Distribution Centre and Vehicle Conversion and Distribution Centre. "After a thorough assessment of our South African operations, we believe it is best for Isuzu to integrate our light commercial vehicle manufacturing operations into its African business. We determined that continued or increased investment in manufacturing in South Africa would not provide GM the expected returns of other global investment opportunities," said Jacoby. “These decisions were not made lightly. We appreciate the support that our employees, customers, dealers, suppliers, the government and other key stakeholders have given us over the many years that we have operated in this country. We will manage the transition as smoothly as possible,” said GM South Africa president and managing director, Ian Nicholls. General Motors says servicing and support will continue in both markets for owners. Source: Reuters , Autocar India , Detroit Free Press , Car Magazine SA, Wheels24 Press Release is on Page 2 General Motors Restructures International Markets to Strengthen Global Business Performance GM India to focus on export manufacturing Isuzu Motors to purchase GM South Africa light commercial vehicle manufacturing operations Chevrolet to be phased out of Indian and South African markets SINGAPORE – General Motors (NYSE: GM) today announced key restructuring actions in its GM International operations to drive stronger financial performance and focus its capital and resources on business opportunities expected to deliver higher returns. The company will focus its GM India manufacturing operations on producing vehicles for export only and will transition GM South Africa manufacturing to Isuzu Motors. GM’s Chevrolet brand will be phased out of both markets by the end of 2017. “As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company,” said GM Chairman and CEO Mary Barra. “We are committed to deploying capital to higher return initiatives that will enable us to lead in our core business and in the future of personal mobility. “Globally, we are now in the right markets to drive profitability, strengthen our business performance and capitalize on growth opportunities for the long term. We will continue to optimize our operations market by market to further improve our competitiveness and cost base.” These decisions were made following an extensive review of operations in GM International markets and reflect a series of actions taken to improve global business performance that began in late 2013. "These actions will further allow us to focus our resources on winning in the markets where we have strong franchises and see greater opportunity," said GM President Dan Ammann. “We have compelling plans for growth in both the top line and the bottom line as we invest for the future." GM Executive Vice President and President, GM International, Stefan Jacoby said the company is running its GM International markets with an enterprise approach and making decisions that are best for the global business. “In India, our exports have tripled over the past year, and this will remain our focus going forward,” he said. “We determined that the increased investment required for an extensive and flexible product portfolio would not deliver a leadership position or long-term profitability in the domestic market.” In South Africa, Isuzu will acquire GM’s light commercial vehicle manufacturing and GM will cease manufacturing and sales of Chevrolet in the domestic market, subject to local regulatory requirements. “After a thorough assessment of our South African operations, we believe it is best for Isuzu to integrate our light commercial vehicle manufacturing operations into its African business,” said Jacoby. “We determined that continued or increased investment in manufacturing in South Africa would not provide GM the expected returns of other global investment opportunities.” Under the improvement actions announced: India: GM’s manufacturing facility at Talegaon will continue as an export hub for Mexico and Central and South American markets. GM will cease sales of Chevrolet vehicles in the domestic market by the end of 2017. Existing Chevrolet customers will continue to be supported in the market. South Africa: Isuzu will purchase GM’s Struandale plant and GM’s remaining 30 percent shareholding in the Isuzu Truck South Africa joint venture, with sales through a national dealer network. Isuzu will also purchase GM’s Vehicle Conversion and Distribution Centre and assume control of the Parts Distribution Centre. The company will phase out the Chevrolet brand in South Africa by the end of 2017. GM continues to work with PSA Group to evaluate future opportunity for the Opel brand in South Africa. Importantly, existing Chevrolet and Opel customers will continue to be supported in the market. East Africa: As announced on February 28, Isuzu has agreed to purchase GM’s 57.7 percent shareholding in GM East Africa, assuming management control. GM will withdraw sales of the Chevrolet brand from the market. Singapore: GM International will streamline its regional headquarters office in Singapore, which will retain responsibility for strategic oversight of the remaining regional business and markets, including Australia and New Zealand, India, Korea and Southeast Asia. This will deliver greater organizational efficiencies while leveraging global resources and in-market expertise. Across affected markets, GM is working with employees, their union representatives and local authorities to provide transition support. As a result of these actions, GM expects to realize annual savings of approximately $100 million and plans to take a charge of approximately $500 million in the second quarter of 2017. The charge will be treated as special and excluded from the company’s EBIT-adjusted results. About $200 million of the special charge will be cash expenses.
  2. BOLT Ad and Deals Seems California is not the only place that has gone over on big deals. Based on looking up this dealership, Maryland has starting July 1st. a $3,000 credit that can be applied at time of purchase to reduce the cost of the EV along with the feds $7,500 benefit. Not so sure about the special effects though!
  3. GM States Desire to be First to Profit from Mass Selling EVs. http://www.greencarreports.com/news/1110469_gm-goal-profitable-affordable-electric-cars-built-in-big-numbers Seems GM is focusing on lower the cost of the batteries sooner rather than later and to turn a profit from EVs. This brings up the question: With China pushing for such high numbers of EV to be sold in that country, could we see a faster decline of ICE auto's and a rapid rise of EVs?
  4. With sales of new vehicles slowing down, automakers find themselves making tough decisions in terms of production and jobs. Later this week, General Motors will temporally shut down their Delta Twp, MI plant (home to Buick Enclave and Chevrolet Traverse) for a month to retool to make way for the next-generation models. When production begins back up on June 12th, there could be more than 600 workers without a job due to the third shift being cut. The Lansing State Journal reports that back in March, close to 1,100 workers were possibly going to be laid off. Workers were notified about this via a WARN notice (an advisory that is required to be sent out to workers under Michigan law). "At this point, we anticipate approximately half the number of people reported in the WARN notice to be impacted by the shift reduction," said Erin Davis, GM's Lansing spokeswoman. Davis didn't give an explanation as to why GM cut down on the number of layoffs. Of the 600-plus workers being laid off, 500 could be brought back in the first-quarter of 2018 when production of the Enclave and Traverse is expected to be fully running explained Davis. Source: Lansing State Journal via Detroit Free Press
  5. With sales of new vehicles slowing down, automakers find themselves making tough decisions in terms of production and jobs. Later this week, General Motors will temporally shut down their Delta Twp, MI plant (home to Buick Enclave and Chevrolet Traverse) for a month to retool to make way for the next-generation models. When production begins back up on June 12th, there could be more than 600 workers without a job due to the third shift being cut. The Lansing State Journal reports that back in March, close to 1,100 workers were possibly going to be laid off. Workers were notified about this via a WARN notice (an advisory that is required to be sent out to workers under Michigan law). "At this point, we anticipate approximately half the number of people reported in the WARN notice to be impacted by the shift reduction," said Erin Davis, GM's Lansing spokeswoman. Davis didn't give an explanation as to why GM cut down on the number of layoffs. Of the 600-plus workers being laid off, 500 could be brought back in the first-quarter of 2018 when production of the Enclave and Traverse is expected to be fully running explained Davis. Source: Lansing State Journal via Detroit Free Press View full article
  6. There are still a lot of unanswered questions concerning the sale of Opel/Vauxhall to PSA Groupe. A fair number deals with Buick as a number of their products (including the new Regal) are intertwined with Opel. GM executives say this will not affect Buick's lineup down the road. “The sale of Opel will have no impact on the fresh new lineup Buick is building out,” said Duncan Aldred, GM’s vice president of global Buick and GMC during the launch of the 2018 Regal this week. “This is very much part of our portfolio plan,” said Mark Reuss, GM’s executive vice president of global product development, purchasing, and supply chain to Car and Driver. “As we said, Opel and the engineering/production piece of this is very much intact for all of our global platforms. So, you know, no impact.” While the deal isn't fully finished yet, Reuss claimed that issues relating to products would be settled before the final transfer takes place. Reuss said he didn't know "of a specific agreement" when asked about if GM would pay PSA Group for engineering work done by Opel. In related news, Automotive News Europe reports that Opel would continue to build Buick vehicles beyond 2019 in its German factories. Source: Automotive News Europe (Subscription Required), Car and Driver
  7. There are still a lot of unanswered questions concerning the sale of Opel/Vauxhall to PSA Groupe. A fair number deals with Buick as a number of their products (including the new Regal) are intertwined with Opel. GM executives say this will not affect Buick's lineup down the road. “The sale of Opel will have no impact on the fresh new lineup Buick is building out,” said Duncan Aldred, GM’s vice president of global Buick and GMC during the launch of the 2018 Regal this week. “This is very much part of our portfolio plan,” said Mark Reuss, GM’s executive vice president of global product development, purchasing, and supply chain to Car and Driver. “As we said, Opel and the engineering/production piece of this is very much intact for all of our global platforms. So, you know, no impact.” While the deal isn't fully finished yet, Reuss claimed that issues relating to products would be settled before the final transfer takes place. Reuss said he didn't know "of a specific agreement" when asked about if GM would pay PSA Group for engineering work done by Opel. In related news, Automotive News Europe reports that Opel would continue to build Buick vehicles beyond 2019 in its German factories. Source: Automotive News Europe (Subscription Required), Car and Driver View full article
  8. General Motors seems being in a cutting mood as it drives to improve its profit margins and stock price. Last week saw the sale of Opel and Vauxhall to PSA Group and it's only the beginning said GM CEO Mary Barra. Automotive News reports that GM is considering reducing investments in North American cars and "select" international markets according to a chart that was shared during a conference call with analysts last week. The chart says these two earned a spot on the chopping block due to low profit potential and weak strength in franchises. "There's a little bit more work that we're doing in the international markets. Our overall philosophy is that every country, every market segment has to earn its cost of capital," Barra said on the conference call. Barra and GM President Dan Ammann declined to go into details about these plans. GM has already made significant changes in terms of their international operations by ending or reducing operations Australia, Indonesia, Russia, and Thailand. The automaker has also scaled back plans in India. The comments made during the call suggest more cuts could take place here and possibly elsewhere. As for 'reducing investments in North American cars', this likely means GM is taking a hard look at various segments in passenger car segment. With consumers trending towards utility vehicles and trucks, sales of passenger cars have been falling precipitously. As of March 1st, dealers had four month's worth of inventory of cars, compared to an 81-day supply for light trucks and less than 60-days for full-size SUVs. GM could walk away from certain segments such as compacts or full-size sedans, or delay investments in certain models. These moves will allow GM to funnel money into models that make more money, and returning capital to shareholders. "That's an immediate opportunity for us to reward shareholders without changing the risk profile of the company or our ability to manage through a downturn," GM CFO Chuck Stevens said. Analysts are mixed on GM's plans. "It takes a lot of discipline to shift away from a volume-is-king kind of mentality," she said. "In the end, that's going to make a better GM -- a longer-standing company that's not only more profitable but more relevant," said Rebecca Lindland, a senior analyst with Kelley Blue Book to Automotive News. John Murphy, an analyst with Bank of America Merrill Lynch isn't so sure about this plan. "It appears that GM's recent decision-making has become much more short-term-focused and, in our opinion, could create challenges for the company in the coming years," Murphy wrote in a report. Source: Automotive News (Subscription Required) View full article
  9. General Motors seems being in a cutting mood as it drives to improve its profit margins and stock price. Last week saw the sale of Opel and Vauxhall to PSA Group and it's only the beginning said GM CEO Mary Barra. Automotive News reports that GM is considering reducing investments in North American cars and "select" international markets according to a chart that was shared during a conference call with analysts last week. The chart says these two earned a spot on the chopping block due to low profit potential and weak strength in franchises. "There's a little bit more work that we're doing in the international markets. Our overall philosophy is that every country, every market segment has to earn its cost of capital," Barra said on the conference call. Barra and GM President Dan Ammann declined to go into details about these plans. GM has already made significant changes in terms of their international operations by ending or reducing operations Australia, Indonesia, Russia, and Thailand. The automaker has also scaled back plans in India. The comments made during the call suggest more cuts could take place here and possibly elsewhere. As for 'reducing investments in North American cars', this likely means GM is taking a hard look at various segments in passenger car segment. With consumers trending towards utility vehicles and trucks, sales of passenger cars have been falling precipitously. As of March 1st, dealers had four month's worth of inventory of cars, compared to an 81-day supply for light trucks and less than 60-days for full-size SUVs. GM could walk away from certain segments such as compacts or full-size sedans, or delay investments in certain models. These moves will allow GM to funnel money into models that make more money, and returning capital to shareholders. "That's an immediate opportunity for us to reward shareholders without changing the risk profile of the company or our ability to manage through a downturn," GM CFO Chuck Stevens said. Analysts are mixed on GM's plans. "It takes a lot of discipline to shift away from a volume-is-king kind of mentality," she said. "In the end, that's going to make a better GM -- a longer-standing company that's not only more profitable but more relevant," said Rebecca Lindland, a senior analyst with Kelley Blue Book to Automotive News. John Murphy, an analyst with Bank of America Merrill Lynch isn't so sure about this plan. "It appears that GM's recent decision-making has become much more short-term-focused and, in our opinion, could create challenges for the company in the coming years," Murphy wrote in a report. Source: Automotive News (Subscription Required)
  10. Last week saw the PSA Group (parent company of Citroen and Peugeot) purchasing Opel and Vauxhall from General Motors for $2.3 billion. This move would make the PSA Group the second-largest automaker in Europe. We already know some of the plans that PSA Group has for their new brands such as setting operating profit targets of 2 percent in 2020 (jumps to 6 percent by 2026) and the next-generation Opel/Vauxhall Corsa being the first new product developed with PSA. But as we alluded to in the original news story, there are a lot of questions that remain unanswered such as possible job cuts or what happens to Buick and Holden as they share products with Opel. I have been doing a bit of thinking on these and some other questions. The end result is this piece. 1: Will there be job cuts and plant closures? In 2016, PSA Group employed 172,000 people worldwide. With the acquisition of Opel and Vauxhall, they will be adding close to 42,000 workers (the majority of those from Opel). The number of plants will also increase to 28 due to this purchase. Sooner or later, PSA Group is going have to make cuts. During the press conference announcing the deal, PSA Group CEO Carlos Tavares said the company “would honor existing labor agreements and closing plants is a “simplistic” solution.” That may be true for now, but this might change within the coming years. Some analysts believe PSA Group will close two to three plants within five years. The most likely place where the closures and layoffs could take place is in Great Britain. The reason as we talked about in a story back in February deals with the decision made by British citizens last year with leaving the European Union. “By leaving, the country would lose access to the EU Single Market which guarantees unconstrained trade across the member states. It would mean various countries would be leveraging tariffs on British-made goods, making production in the country less competitive.” Former British member of parliament and business secretary Sir Vincent Cable outlined how bad this decision looks for Vauxhall in a recent interview on BBC Radio 4. There could be a way that the British Government could at least stall the possible closures. Back in October, the British Government worked out a secret deal with Nissan to keep them investing in British car production at their plant in Sunderland. This deal caused an uproar as the details were kept as many believed the British Government would be handing over money to keep Nissan happy. But sources told British newspaper The Independent back in January that the deal had no mention of money. It could be that the British Government could do something similar for PSA Group to keep jobs, but it is too early to say if this will happen or not. 2: Will this affect PSA’s plans of entering the U.S.? Probably not. Let’s remember that PSA Group is working through a ten-year plan that may or may not see the return of the Citroen and Peugeot, along with the introduction of DS to the country. Already, the first part of this plan is gearing up for the launch of a car sharing service next month. There is also extensive research going on into the U.S. marketplace. But could there be a possibility of Opel or Vauxhall vehicles being sold here? It would not be surprising if there isn’t talk about this at PSA Group’s HQ. But there is a slight complication to this idea. As part of the sale, PSA Group cannot sell any Opel vehicles developed by GM anywhere in various markets outside of Europe (China and U.S. for example) until they transition to PSA platforms. That means a number of models such as the Astra, Insignia, and Mokka are out of the question for the time being. If Opel was chosen to be one of the brands PSA would sell in the U.S., they might not have a full line of vehicles to sell due to this clause. 3: What does the future hold for Buick and Holden? If there are some losers from the sale of Opel, it has to Buick and Holden. Buick has found some success with Opel products as the Encore (rebadged Mokka) has become one the best-selling models for the brand. Holden is getting a shot in the arm as the Astra will hopefully help their fortunes in the compact space, and the new Commodore (rebadged Insignia) has a tough task ahead of it with living up to an iconic name. For the time being, Opel will continue supplying models to both brands. It is what happens in the future that many are concerned about. During the Geneva Motor Show, GM President Dan Ammann said something very interest to Australian journalists about the future of Holden’s products. This makes sense as the Astra was only launched and the Commodore is getting ready to go on sale. But I wouldn’t be surprised if talks begin very soon about this very topic. The same talks are likely to begin at Buick soon where they face the same issue for the Regal and Encore. Our hunch is Buick might have the easier time of two. The Encore would continue on since it shares the same platform as the Chevrolet Trax. As for the Regal, it could leave Buick’s lineup once the next-generation model runs its course. 4: Does GM lose anything with this deal? There has been a lot of talk about how much money will be freed up from the sale of Opel/Vauxhall for GM, along with making a bit more profit. But it comes at a cost that could hurt GM down the road. The recent crop of compact and midsize sedans from GM owe a lot to Opel’s engineering knowledge. Vehicles that excel in driving dynamics and fuel economy are worth their weight in gold when it comes to the European marketplace. As we know, one part of why GM went into bankruptcy was the lack of competitive small and midsize cars that got good fuel economy. Opel would prove to be GM’s savior with this key knowledge. Right now, compacts and midsize sedans aren’t selling as consumers are directing their attention to crossovers and SUVs. This is due in part to lower gas prices. But sooner or later, the price of gas will go back up and cause many to go back to smaller vehicles. With talk about GM scaling back on their small and midsize car lineup, this decision could have consequences down the road. Plus with Opel out of the picture, GM doesn’t have someone it can rely on to get these models back to the forefront. We can hope GM’s North American office has learned some stuff when working with their European counterparts. View full article
  11. Last week saw the PSA Group (parent company of Citroen and Peugeot) purchasing Opel and Vauxhall from General Motors for $2.3 billion. This move would make the PSA Group the second-largest automaker in Europe. We already know some of the plans that PSA Group has for their new brands such as setting operating profit targets of 2 percent in 2020 (jumps to 6 percent by 2026) and the next-generation Opel/Vauxhall Corsa being the first new product developed with PSA. But as we alluded to in the original news story, there are a lot of questions that remain unanswered such as possible job cuts or what happens to Buick and Holden as they share products with Opel. I have been doing a bit of thinking on these and some other questions. The end result is this piece. 1: Will there be job cuts and plant closures? In 2016, PSA Group employed 172,000 people worldwide. With the acquisition of Opel and Vauxhall, they will be adding close to 42,000 workers (the majority of those from Opel). The number of plants will also increase to 28 due to this purchase. Sooner or later, PSA Group is going have to make cuts. During the press conference announcing the deal, PSA Group CEO Carlos Tavares said the company “would honor existing labor agreements and closing plants is a “simplistic” solution.” That may be true for now, but this might change within the coming years. Some analysts believe PSA Group will close two to three plants within five years. The most likely place where the closures and layoffs could take place is in Great Britain. The reason as we talked about in a story back in February deals with the decision made by British citizens last year with leaving the European Union. “By leaving, the country would lose access to the EU Single Market which guarantees unconstrained trade across the member states. It would mean various countries would be leveraging tariffs on British-made goods, making production in the country less competitive.” Former British member of parliament and business secretary Sir Vincent Cable outlined how bad this decision looks for Vauxhall in a recent interview on BBC Radio 4. There could be a way that the British Government could at least stall the possible closures. Back in October, the British Government worked out a secret deal with Nissan to keep them investing in British car production at their plant in Sunderland. This deal caused an uproar as the details were kept as many believed the British Government would be handing over money to keep Nissan happy. But sources told British newspaper The Independent back in January that the deal had no mention of money. It could be that the British Government could do something similar for PSA Group to keep jobs, but it is too early to say if this will happen or not. 2: Will this affect PSA’s plans of entering the U.S.? Probably not. Let’s remember that PSA Group is working through a ten-year plan that may or may not see the return of the Citroen and Peugeot, along with the introduction of DS to the country. Already, the first part of this plan is gearing up for the launch of a car sharing service next month. There is also extensive research going on into the U.S. marketplace. But could there be a possibility of Opel or Vauxhall vehicles being sold here? It would not be surprising if there isn’t talk about this at PSA Group’s HQ. But there is a slight complication to this idea. As part of the sale, PSA Group cannot sell any Opel vehicles developed by GM anywhere in various markets outside of Europe (China and U.S. for example) until they transition to PSA platforms. That means a number of models such as the Astra, Insignia, and Mokka are out of the question for the time being. If Opel was chosen to be one of the brands PSA would sell in the U.S., they might not have a full line of vehicles to sell due to this clause. 3: What does the future hold for Buick and Holden? If there are some losers from the sale of Opel, it has to Buick and Holden. Buick has found some success with Opel products as the Encore (rebadged Mokka) has become one the best-selling models for the brand. Holden is getting a shot in the arm as the Astra will hopefully help their fortunes in the compact space, and the new Commodore (rebadged Insignia) has a tough task ahead of it with living up to an iconic name. For the time being, Opel will continue supplying models to both brands. It is what happens in the future that many are concerned about. During the Geneva Motor Show, GM President Dan Ammann said something very interest to Australian journalists about the future of Holden’s products. This makes sense as the Astra was only launched and the Commodore is getting ready to go on sale. But I wouldn’t be surprised if talks begin very soon about this very topic. The same talks are likely to begin at Buick soon where they face the same issue for the Regal and Encore. Our hunch is Buick might have the easier time of two. The Encore would continue on since it shares the same platform as the Chevrolet Trax. As for the Regal, it could leave Buick’s lineup once the next-generation model runs its course. 4: Does GM lose anything with this deal? There has been a lot of talk about how much money will be freed up from the sale of Opel/Vauxhall for GM, along with making a bit more profit. But it comes at a cost that could hurt GM down the road. The recent crop of compact and midsize sedans from GM owe a lot to Opel’s engineering knowledge. Vehicles that excel in driving dynamics and fuel economy are worth their weight in gold when it comes to the European marketplace. As we know, one part of why GM went into bankruptcy was the lack of competitive small and midsize cars that got good fuel economy. Opel would prove to be GM’s savior with this key knowledge. Right now, compacts and midsize sedans aren’t selling as consumers are directing their attention to crossovers and SUVs. This is due in part to lower gas prices. But sooner or later, the price of gas will go back up and cause many to go back to smaller vehicles. With talk about GM scaling back on their small and midsize car lineup, this decision could have consequences down the road. Plus with Opel out of the picture, GM doesn’t have someone it can rely on to get these models back to the forefront. We can hope GM’s North American office has learned some stuff when working with their European counterparts.
  12. You have to admire Fiat Chrysler Automobiles' CEO Sergio Marchionne for still hanging onto the dream of FCA and General Motors merging, despite being told repeatedly that isn't going to happen. At the Geneva Motor Show this week, Marchionne put out there that he is still interested in getting together with GM. "I never close any doors. I may shamelessly try and knock again ... on the GM door or any door if I thought it was a good thing for the business. Absolutely, without even blinking. The desirability of GM as a potential merger candidate remains untouched," said Marchionne. Unsurprisingly, GM shot down Marchionne's dreams. "We weren't interested before and we're even less interested now," said GM President Dan Ammann. Marchionne isn't one to give up however, he has a plan B: Volkswagen. As he told Bloomberg, with PSA Group becoming the second largest automaker in Europe with the acquisition of Opel/Vauxhall, this could put Volkswagen in a vulnerable position. He sees the company possibly looking for a partner. “I have no doubt that at the relevant time VW may show up and have a chat” about a merger, said Marchionne. Volkswagen CEO Matthias Müller slapped down that idea when asked. “We are not ready for talks about anything. I haven’t seen Marchionne for months,” said Müller. “We have other problems.” Source: Bloomberg , Reuters, (2) View full article
  13. You have to admire Fiat Chrysler Automobiles' CEO Sergio Marchionne for still hanging onto the dream of FCA and General Motors merging, despite being told repeatedly that isn't going to happen. At the Geneva Motor Show this week, Marchionne put out there that he is still interested in getting together with GM. "I never close any doors. I may shamelessly try and knock again ... on the GM door or any door if I thought it was a good thing for the business. Absolutely, without even blinking. The desirability of GM as a potential merger candidate remains untouched," said Marchionne. Unsurprisingly, GM shot down Marchionne's dreams. "We weren't interested before and we're even less interested now," said GM President Dan Ammann. Marchionne isn't one to give up however, he has a plan B: Volkswagen. As he told Bloomberg, with PSA Group becoming the second largest automaker in Europe with the acquisition of Opel/Vauxhall, this could put Volkswagen in a vulnerable position. He sees the company possibly looking for a partner. “I have no doubt that at the relevant time VW may show up and have a chat” about a merger, said Marchionne. Volkswagen CEO Matthias Müller slapped down that idea when asked. “We are not ready for talks about anything. I haven’t seen Marchionne for months,” said Müller. “We have other problems.” Source: Bloomberg , Reuters, (2)
  14. Only a few weeks after first learning about the talks between General Motors and PSA Group on the possible purchase of Opel/Vauxhall, Reuters reports that a deal has been reached. This afternoon, two sources told the news service the board of PSA Group approved the deal. An announcement about the purchase is expected on Monday. Also, Opel cut short a town hall meeting today at their headquarters in Ruesselsheim, Germany due to management being unable to discuss details about the potential acquisition. A town hall meeting possibly discussing this will take place on Monday morning. Details about the deal are being kept under wraps, but earlier in the week, sources revealed that the two parties had narrowed the differences on the almost $10 billion in Opel pension liabilities and other issues. Source: Reuters View full article
  15. Only a few weeks after first learning about the talks between General Motors and PSA Group on the possible purchase of Opel/Vauxhall, Reuters reports that a deal has been reached. This afternoon, two sources told the news service the board of PSA Group approved the deal. An announcement about the purchase is expected on Monday. Also, Opel cut short a town hall meeting today at their headquarters in Ruesselsheim, Germany due to management being unable to discuss details about the potential acquisition. A town hall meeting possibly discussing this will take place on Monday morning. Details about the deal are being kept under wraps, but earlier in the week, sources revealed that the two parties had narrowed the differences on the almost $10 billion in Opel pension liabilities and other issues. Source: Reuters
  16. Despite the dark cloud that diesel has gotten due to the Volkswagen diesel emission scandal, General Motors sees a bright future for it. “The outlook for diesel in the U.S.A. is actually promising. We definitely see certain segments reaching 10 percent penetration and yes, an upside potential of 10 percent overall,” said Dan Nicholson, GM’s vice president of global propulsion systems to The Detroit News. Case in point, nine percent of Chevrolet Colorado and GMC Canyon trucks sold are equipped with a diesel. General Motors already has six vehicles available with a diesel (Silverado and Sierra HD: Colorado, Canyon, Express, and Savana). But they are planning to add three more diesel models in the coming year - Cruze, Equinox, and Terrain. Why? A lot of it comes down to the upcoming CAFE mandate that an automaker's fleet average must meet 54.5 mpg by 2025. GM sees diesel as a way to help reach this goal. Also with the ongoing Volkswagen mess, GM sees an opportunity to possibly draw former Volkswagen TDI owners to one of their models. Source: The Detroit News View full article
  17. Despite the dark cloud that diesel has gotten due to the Volkswagen diesel emission scandal, General Motors sees a bright future for it. “The outlook for diesel in the U.S.A. is actually promising. We definitely see certain segments reaching 10 percent penetration and yes, an upside potential of 10 percent overall,” said Dan Nicholson, GM’s vice president of global propulsion systems to The Detroit News. Case in point, nine percent of Chevrolet Colorado and GMC Canyon trucks sold are equipped with a diesel. General Motors already has six vehicles available with a diesel (Silverado and Sierra HD: Colorado, Canyon, Express, and Savana). But they are planning to add three more diesel models in the coming year - Cruze, Equinox, and Terrain. Why? A lot of it comes down to the upcoming CAFE mandate that an automaker's fleet average must meet 54.5 mpg by 2025. GM sees diesel as a way to help reach this goal. Also with the ongoing Volkswagen mess, GM sees an opportunity to possibly draw former Volkswagen TDI owners to one of their models. Source: The Detroit News
  18. How much is Opel worth? According to Bloomberg, the valuation being discussed by General Motors and PSA Group puts it around $2 billion dollars. According to sources, the total comprises about $1 billion in cash and about $1 billion in liabilities. The amount could change as two are still assessing a number of items such as the value of brand rights and savings potential. The sources also the framework for PSA to buy Opel could be finished by Thursday. This would be the same day when PSA Group reports full-year earnings. The sources go on to caution this could be pushed back because of the complex nature of the deal such us finding ways to reduce costs while keeping workers and the various unions happy. Source: Bloomberg
  19. How much is Opel worth? According to Bloomberg, the valuation being discussed by General Motors and PSA Group puts it around $2 billion dollars. According to sources, the total comprises about $1 billion in cash and about $1 billion in liabilities. The amount could change as two are still assessing a number of items such as the value of brand rights and savings potential. The sources also the framework for PSA to buy Opel could be finished by Thursday. This would be the same day when PSA Group reports full-year earnings. The sources go on to caution this could be pushed back because of the complex nature of the deal such us finding ways to reduce costs while keeping workers and the various unions happy. Source: Bloomberg View full article
  20. G. David Felt - Staff Writer Alternative Energy - www.cheersandgears.com GM CEO Mary Barra states BOLT will be platform for complete series of EVs! This is exciting to see in this interview that Road/Show posted with GM CEO Mary Barra who was excited to talk about the BOLT and was asked about a Hybrid or EV Camero and she says anything is possible. This was based on the interviewer asking her thoughts about the Hybrid announcement by FORD of the mustang. They also talked about Hybrid trucks in California and Fords announcements of other EV's and Hybrids. Much more on Crossovers / SUVs etc. They also talk about Cadillac subscription service. Pretty good interview only 4:46 min long. Currently driving an XT5. Road/Show chat with GM CEO Mary Barra
  21. G. David Felt - Staff Writer Alternative Energy - www.cheersandgears.com Honda Clarity Kicks Advertising into High Gear! While on YouTube I discovered a whole new crop of videos to help sell the Honda Clarity Hydrogen auto. Interesting that they went again to PES a video man that has a reputation for stop motion commercials. This time they went with kids singing and the heads one has to figure represent the hydrogen molecules in the tank. Honda YouTube Additional commercials also made by PES for Honda's big push of the Clarity Hydrogen auto: As one follows the links from YouTube for the Honda Clarity it is amazing to see all the other videos too such as the one below on how a fuel cell works. As I learned from the RoadShow video, the Clarity is in essence an EV with a Hydrogen Generator to give you a 366 mile range. What I was surprised by is that both the Toyota Mirai and this clarity are lease only auto's with a stated value of $60,000 more or less and free hydrogen for the first 3 years. Makes one wonder WHY, WHY would you want such an UGLY auto with such a high monthly lease cost when there are far better options out there. I love my alternative auto's and EV's are rocking it more and more, so for an energy upside down auto, do we really need these? One Positive is that this is the first time I actually like the dash and the tablet interface for the auto with proper sized buttons to control everything else. Want to know more about Hydrogen Auto's, this is a great video that covers what some think is the future for the auto industry.
  22. GM Announces January U.S. Sales, Affirms Positive Outlook DETROIT — General Motors (NYSE: GM) U.S. dealers delivered 195,909 cars, trucks and crossovers in January, down 3.8 percent year over year. Retail sales totaled 155,010 units, down 4.9 percent, and the company set a new January record for average transaction prices. “In early January, we focused on profitability while key competitors sold down their large stocks of deeply discounted, old-model-year pickups,” said Kurt McNeil, U.S. vice president of Sales Operations. “We gained considerable sales momentum as we rebuilt our mid-size pickup, SUV and compact crossover inventories from very low levels following record-setting December sales.” Inventories of most of these products were in the 30 – 50 days’ supply range at the beginning of January. January Highlights (vs. Jan. 2016) GM estimates that the seasonally adjusted annual selling rate (SAAR) for light vehicles was approximately 17.6 million units. GM’s ATPs, which reflect retail transaction prices after incentives, rose $1,200 per unit to $34,500, a new January record. GM was the only domestic automaker and one of only two full-line automakers to reduce incentives as a percentage of ATP. GM spending was 12.7 percent, down 0.3 points, and the industry average was 12.3 percent, up 1.3 points. Rental deliveries were down 1 percent. Total fleet sales were up 1 percent on a 12 percent increase in Government deliveries and a 1 percent increase in Commercial sales. GM’s fleet mix was 21 percent of total sales. Small business deliveries were up 4 percent. Chevrolet Retail Sales The Cruze, up 22 percent, the Volt, up 56 percent, and the Trax, up 40 percent, had their best-ever January retail sales. Total sales were also January records. Spark deliveries were up 40 percent. Bolt EVs, which were available in California and Oregon during the month, had the fastest days to turn in the industry at 7 days. The Tahoe, up 8 percent, and Suburban, up 11 percent, had their best January retail sales since 2008. The Equinox was up 4 percent. The Colorado was up 9 percent for its best January retail sales since 2005. Total sales were also the highest January since 2005. Sales of the Silverado HD pickup were up 32 percent for the truck’s best January retail sales since 2008. Total HD sales were also the best since 2008. Buick Retail Sales Crossover deliveries were up 20 percent, driven by higher Encore sales and the first-ever Envision. Average transaction prices were up 9 percent, four times better than the industry average growth. GMC Retail Sales Deliveries of the Acadia were up 15 percent. Sierra deliveries were up 2 percent, for the truck’s best retail January sales since 2002. Average transaction prices were up 7 percent, more than three times better than the industry average growth. Cadillac Retail Sales Cadillac sales were up more than 1 percent. Crossover deliveries were up 11 percent, on the strength of the new XT5. Total Escalade deliveries were up 10 percent, driven by 7 percent increase in Escalade ESV retail sales. Average transaction prices were the highest in the brand’s history at $55,300, up about $1,000 year over year. GM Momentum Continues to Grow In 2016, GM was the industry’s fastest-growing full-line automaker on a retail sales basis, and Chevrolet has been the fastest-growing full-line brand for two consecutive years on a retail basis. Chevrolet grew retail market share in 2015-2016 by almost one full percentage point, which translates to more than 120,000 incremental sales. “Our go-to-market strategy in 2017 is the same as 2016,” McNeil said. “We are focused on strengthening our brands, growing retail sales and share, reducing daily rental deliveries and maintaining our operating discipline.” GM is optimistic about the year ahead because the economy is strong and the company’s four brands are dramatically expanding their product offerings in fast-growing crossover segments. Industry sales are expected to remain at or near record levels, with higher GM retail sales and market share on a year-over-year basis. GM’s deliveries to daily rental companies are expected to decline as a percentage of total sales for the third year in a row. GM will continue to match production with customer demand. Previously announced plans to reduce passenger car production at plants in Lordstown, Ohio and Lansing, Michigan were implemented at the end of January. GM’s operating discipline will help drive continued improvements in brand health and resale values. During January, IHS Markit said GM had the highest overall loyalty to a manufacturer for the second year in a row. Also, Kelley Blue Book gave seven Chevrolet and GMC vehicles awards for outstanding resale value, more than any other manufacturer. Ten all-new or recently redesigned crossovers are expected to drive GM’s 2017 sales results, including two new compact models, which will compete in the industry’s largest segment. Crossover Launches by Brand Chevrolet will have the industry’s broadest and freshest lineup of utility vehicles behind the 238-mile range Bolt EV; the 2018 Equinox, which arrives in showrooms soon; and the all-new Traverse, which arrives this summer. At Buick, crossovers are expected to account for as much as 75 percent of retail deliveries, up from 66 percent in 2016, driven by the Encore, Envision and Enclave. GMC, which has the highest average transaction prices of any non-luxury brand, will launch the all-new 2018 Terrain in late summer. It will complement the redesigned Acadia, which went on sale in late summer 2016. Cadillac will benefit from a full year of production of the new XT5 crossover, which is now the second best-selling vehicle in its segment.
  23. General Motors and Honda have been working together on hydrogen fuel cells since 2013. The result of this work has led to new, more economical fuel cell stack that the two companies will build together via a joint venture in 2020. Today, the two automakers revealed the new joint venture - Fuel Cell System Manufacturing, LLC. Based at GM's battery facility in Brownstown Township, MI, the venture will bring 100 new jobs and cost $85 million between the two companies. The fuel cell stack shown today is similar to the one currently in the Honda Clarity FCV. The difference is the stack shown uses fewer materials and is simpler to produce. “Over the past three years, engineers from Honda and GM have been working as one team with each company providing know-how from its unique expertise to create a compact and low-cost next-gen fuel cell system. This foundation of outstanding teamwork will now take us to the stage of joint mass production of a fuel cell system that will help each company create new value for our customers in fuel cell vehicles of the future,” said Toshiaki Mikoshiba, chief operating officer of the North American Region for Honda Motor Co., Ltd. and president of Honda North America, Inc. “With the next-generation fuel cell system, GM and Honda are making a dramatic step toward lower cost, higher-volume fuel cell systems. Precious metals have been reduced dramatically and a fully cross-functional team is developing advanced manufacturing processes simultaneously with advances in the design. The result is a lower-cost system that is a fraction of the size and mass,” said Charlie Freese, GM executive director of Global Fuel Cell Business. But there is still the elephant in the room when it comes to hydrogen vehicles - the lack of infrastructure. GM and Honda reiterated plans to work with Governments and other to fix this issue. Source: General Motors, Honda Press Release is on Page 2 GM and Honda to Establish Industry-First Joint Fuel Cell System Manufacturing Operation in Michigan Advanced fuel cell technology will be applied to each company’s future products DETROIT — General Motors Co. (NYSE: GM) and Honda (NYSE: HMC) today announced establishment of the auto industry’s first manufacturing joint venture to mass produce an advanced hydrogen fuel cell system that will be used in future products from each company. Fuel Cell System Manufacturing, LLC will operate within GM’s existing battery pack manufacturing facility site in Brownstown, Michigan, south of Detroit. Mass production of fuel cell systems is expected to begin around 2020 and create nearly 100 new jobs. The companies are making equal investments totaling $85 million in the joint venture. Honda and GM have been working together through a master collaboration agreement announced in July 2013. It established the co-development arrangement for a next-generation fuel cell system and hydrogen storage technologies. The companies integrated their development teams and shared hydrogen fuel cell intellectual property to create a more affordable commercial solution for fuel cell and hydrogen storage systems. “Over the past three years, engineers from Honda and GM have been working as one team with each company providing know-how from its unique expertise to create a compact and low-cost next-gen fuel cell system,” said Toshiaki Mikoshiba, chief operating officer of the North American Region for Honda Motor Co., Ltd. and president of Honda North America, Inc. “This foundation of outstanding teamwork will now take us to the stage of joint mass production of a fuel cell system that will help each company create new value for our customers in fuel cell vehicles of the future.” The Fuel Cell System Manufacturing (FCSM) joint venture will be operated by a board of directors consisting of three executives from each company that will include a rotating chairperson. In addition, a president will be appointed to rotate between each company. GM and Honda are acknowledged leaders in fuel cell technology with more than 2,220 patents between them, according to the Clean Energy Patent Growth Index. GM and Honda rank No. 1 and No. 3, respectively, in total fuel cell patents filed in 2002 through 2015. “The combination of two leaders in fuel cell innovation is an exciting development in bringing fuel cells closer to the mainstream of propulsion applications,” said Mark Reuss, GM executive vice president, Global Product Development, Purchasing and Supply Chain. “The eventual deployment of this technology in passenger vehicles will create more differentiated and environmentally friendly transportation options for consumers.” Fuel cell technology addresses many of the major challenges facing automobiles today: petroleum dependency, emissions, efficiency, range and refueling times. Fuel cell vehicles can operate on hydrogen made from renewable sources such as wind and biomass. Water vapor is the only emission from fuel cell vehicles. In addition to advancing the performance of the fuel cell system, GM and Honda are working together to reduce the cost of development and manufacturing through economies of scale and common sourcing. The two companies also continue to work with governments and other stakeholders to further advance the refueling infrastructure that is critical for the long-term viability and consumer acceptance of fuel cell vehicles. GM is currently demonstrating the capability of fuel cells across a range of land, sea and air applications. The company has accumulated millions of miles of real-world driving in fuel cell vehicles. “With the next-generation fuel cell system, GM and Honda are making a dramatic step toward lower cost, higher-volume fuel cell systems. Precious metals have been reduced dramatically and a fully cross-functional team is developing advanced manufacturing processes simultaneously with advances in the design,” said Charlie Freese, GM executive director of Global Fuel Cell Business. “The result is a lower-cost system that is a fraction of the size and mass.” Honda began delivery of its all-new Clarity Fuel Cell vehicle to U.S. customers in December 2016 following a spring 2016 launch in Japan. The Clarity Fuel Cell received the best driving range rating from the EPA of any electric vehicle without a combustion engine with a range rating of 366 miles and fuel economy rating of 68 miles per gallon of gasoline-equivalent combined. “The expertise Honda has established that led to creation of the first-generation Clarity fuel cell system is valuable experience that we are leveraging in the joint development of the next-generation fuel cell system with GM,” said Takashi Sekiguchi, managing officer and director and chief operating officer of Automotive Operations, Honda Motor Co., Ltd. “Our collaboration is an opportunity to further utilize the strengths of each company to popularize fuel cell vehicles at the earliest possible time.” GM and Honda collaborated in a powertrain cross-supply arrangement in 1999 under which Honda manufactured 50,000 V-6 engines for the Saturn VUE and Honda received diesel engines from GM’s Isuzu affiliate for use in Europe. View full article
  24. General Motors and Honda have been working together on hydrogen fuel cells since 2013. The result of this work has led to new, more economical fuel cell stack that the two companies will build together via a joint venture in 2020. Today, the two automakers revealed the new joint venture - Fuel Cell System Manufacturing, LLC. Based at GM's battery facility in Brownstown Township, MI, the venture will bring 100 new jobs and cost $85 million between the two companies. The fuel cell stack shown today is similar to the one currently in the Honda Clarity FCV. The difference is the stack shown uses fewer materials and is simpler to produce. “Over the past three years, engineers from Honda and GM have been working as one team with each company providing know-how from its unique expertise to create a compact and low-cost next-gen fuel cell system. This foundation of outstanding teamwork will now take us to the stage of joint mass production of a fuel cell system that will help each company create new value for our customers in fuel cell vehicles of the future,” said Toshiaki Mikoshiba, chief operating officer of the North American Region for Honda Motor Co., Ltd. and president of Honda North America, Inc. “With the next-generation fuel cell system, GM and Honda are making a dramatic step toward lower cost, higher-volume fuel cell systems. Precious metals have been reduced dramatically and a fully cross-functional team is developing advanced manufacturing processes simultaneously with advances in the design. The result is a lower-cost system that is a fraction of the size and mass,” said Charlie Freese, GM executive director of Global Fuel Cell Business. But there is still the elephant in the room when it comes to hydrogen vehicles - the lack of infrastructure. GM and Honda reiterated plans to work with Governments and other to fix this issue. Source: General Motors, Honda Press Release is on Page 2 GM and Honda to Establish Industry-First Joint Fuel Cell System Manufacturing Operation in Michigan Advanced fuel cell technology will be applied to each company’s future products DETROIT — General Motors Co. (NYSE: GM) and Honda (NYSE: HMC) today announced establishment of the auto industry’s first manufacturing joint venture to mass produce an advanced hydrogen fuel cell system that will be used in future products from each company. Fuel Cell System Manufacturing, LLC will operate within GM’s existing battery pack manufacturing facility site in Brownstown, Michigan, south of Detroit. Mass production of fuel cell systems is expected to begin around 2020 and create nearly 100 new jobs. The companies are making equal investments totaling $85 million in the joint venture. Honda and GM have been working together through a master collaboration agreement announced in July 2013. It established the co-development arrangement for a next-generation fuel cell system and hydrogen storage technologies. The companies integrated their development teams and shared hydrogen fuel cell intellectual property to create a more affordable commercial solution for fuel cell and hydrogen storage systems. “Over the past three years, engineers from Honda and GM have been working as one team with each company providing know-how from its unique expertise to create a compact and low-cost next-gen fuel cell system,” said Toshiaki Mikoshiba, chief operating officer of the North American Region for Honda Motor Co., Ltd. and president of Honda North America, Inc. “This foundation of outstanding teamwork will now take us to the stage of joint mass production of a fuel cell system that will help each company create new value for our customers in fuel cell vehicles of the future.” The Fuel Cell System Manufacturing (FCSM) joint venture will be operated by a board of directors consisting of three executives from each company that will include a rotating chairperson. In addition, a president will be appointed to rotate between each company. GM and Honda are acknowledged leaders in fuel cell technology with more than 2,220 patents between them, according to the Clean Energy Patent Growth Index. GM and Honda rank No. 1 and No. 3, respectively, in total fuel cell patents filed in 2002 through 2015. “The combination of two leaders in fuel cell innovation is an exciting development in bringing fuel cells closer to the mainstream of propulsion applications,” said Mark Reuss, GM executive vice president, Global Product Development, Purchasing and Supply Chain. “The eventual deployment of this technology in passenger vehicles will create more differentiated and environmentally friendly transportation options for consumers.” Fuel cell technology addresses many of the major challenges facing automobiles today: petroleum dependency, emissions, efficiency, range and refueling times. Fuel cell vehicles can operate on hydrogen made from renewable sources such as wind and biomass. Water vapor is the only emission from fuel cell vehicles. In addition to advancing the performance of the fuel cell system, GM and Honda are working together to reduce the cost of development and manufacturing through economies of scale and common sourcing. The two companies also continue to work with governments and other stakeholders to further advance the refueling infrastructure that is critical for the long-term viability and consumer acceptance of fuel cell vehicles. GM is currently demonstrating the capability of fuel cells across a range of land, sea and air applications. The company has accumulated millions of miles of real-world driving in fuel cell vehicles. “With the next-generation fuel cell system, GM and Honda are making a dramatic step toward lower cost, higher-volume fuel cell systems. Precious metals have been reduced dramatically and a fully cross-functional team is developing advanced manufacturing processes simultaneously with advances in the design,” said Charlie Freese, GM executive director of Global Fuel Cell Business. “The result is a lower-cost system that is a fraction of the size and mass.” Honda began delivery of its all-new Clarity Fuel Cell vehicle to U.S. customers in December 2016 following a spring 2016 launch in Japan. The Clarity Fuel Cell received the best driving range rating from the EPA of any electric vehicle without a combustion engine with a range rating of 366 miles and fuel economy rating of 68 miles per gallon of gasoline-equivalent combined. “The expertise Honda has established that led to creation of the first-generation Clarity fuel cell system is valuable experience that we are leveraging in the joint development of the next-generation fuel cell system with GM,” said Takashi Sekiguchi, managing officer and director and chief operating officer of Automotive Operations, Honda Motor Co., Ltd. “Our collaboration is an opportunity to further utilize the strengths of each company to popularize fuel cell vehicles at the earliest possible time.” GM and Honda collaborated in a powertrain cross-supply arrangement in 1999 under which Honda manufactured 50,000 V-6 engines for the Saturn VUE and Honda received diesel engines from GM’s Isuzu affiliate for use in Europe.
  25. Workers at General Motors' CAMI plant in Ingersoll, Ontario are reeling from the news this morning that 625 workers will be laid off. This unexpected move comes as the plant will solely focus on production of the new Chevrolet Equinox. Production of the GMC Terrain which had been part of CAMI will move down to Mexico for the 2018 model. Not surprising, officials at Unifor are none too pleased with this. “I’m shocked, it’s an absolute embarrassment on behalf of GM as far as I’m concerned,” said Mike Van Boekel, chairperson of Unifor Local 88 to London radio station AM980. "It was previously announced with employees that the next generation GMC Terrain will be produced outside of CAMI. We have confirmed the production location to be Mexico," said GM Canada Corporate and Internal Communications manager Jennifer Wright to CBC News. GM Spokesman Tom Wickam tells The Detroit News the decision is not because of Terrain production moving down to Mexico, but due to an expected decline in overall production at the plant. But Unifor Local 88 president Dan Borthwick tells CBC News that GM that when the news of the Terrain moving down to Mexico was announced, it was Unifor's understanding that no jobs would be lost. "Our understanding [was] that we had sufficient production in the future and we would not be incurring any layoffs. Within a week or two weeks we get this horrible news this morning that 600 members would be laid off." GM disputes this, saying in a statement it "provided Unifor advanced notification of labour impacts related to product changeovers and transition at its CAMI facility." Nevertheless, Unifor is angry. Unifor President Jerry Dias blasted GM and the North American Free Trade Agreement (NAFTA) over the layoffs. He called the layoffs as “shining example of everything wrong with NAFTA. It must be re-negotiated. It is imperative that we have trade rules that help ensure good jobs in Canada." “This decision reeks of corporate greed. It is not based on sales, it is an another example of how good jobs are being shifted out of Canada for cheaper labor in Mexico and Unifor will not let it happen without a fight.” Dias went on to say that he is all for President Donald Trump's plan to renegotiate NAFTA. It should be noted that CAMI was not involved in contract negotiations last year as they are covered by a different labor agreement. Negotiations will begin sometime later this for a new labor agreement at CAMI. Source: AM980, CBC News , The Detroit News, The Truth About Cars

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