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Found 353 results

  1. Last Sunday night, workers at General Motors' CAMI Assembly plant in Ingersoll, Ontario went on strike due to the automaker and Unifor Local 88 being unable to reach a tentative agreement. The plant where the majority of the Chevrolet Equinoxes are built has been shut down since. Now the side effects are the strike are beginning to be felt. At least 255 workers at GM's St. Catharines, Ontario plant have been given temporary layoff notices that begin tomorrow. St. Catharines is where the transmissions for the Equinox are built. According to Automotive News, workers spent the week stockpiling transmissions. "We supply about 90 per cent of (CAMI's) transmissions, so it's related to that. Even though they were down, we ran all week ... We have a lot of transmissions stockpiled now because we didn't know if they were going to resolve it this week or not. It doesn't look like they're going to," said Tim McKinnon, chairman of Unifor Local 199 that represents St. Catharines. “We’re off until they get it settled. Every time they sneeze, we catch a cold. If they pick up more volume, we pick up more volume.” GM announced late last week that it is making production adjustments at St. Catharines, Spring Hill, and Flint Engine Operations. Both Spring Hill and Flint provide the engines for the Equinox. Also last week, Canadian supplier Magna International said it would suspend the supply of parts. The top concerns for the two sides are very different. For GM, it is the worry of having enough supply of Equnoxes for the demand. Sales rose 85 percent year-over-year in August. While GM does also build the Equinox in San Luis Potosi and Ramos Arizpe, Mexico, the two plants cannot match the output of CAMI (40,017 for the Mexican plants vs. 132,288 for CAMI). For Unifor, they want assurances that CAMI will remain the lead plant for the Equinox and want another product for the plant to build. Unifor has reached out to GM on Wednesday on possibly restarting negotiations. At this time, no word on whether two have or will meet. Source: Automotive News (Subscription Required), The Canadian Press via CBC
  2. Last Sunday night, workers at General Motors' CAMI Assembly plant in Ingersoll, Ontario went on strike due to the automaker and Unifor Local 88 being unable to reach a tentative agreement. The plant where the majority of the Chevrolet Equinoxes are built has been shut down since. Now the side effects are the strike are beginning to be felt. At least 255 workers at GM's St. Catharines, Ontario plant have been given temporary layoff notices that begin tomorrow. St. Catharines is where the transmissions for the Equinox are built. According to Automotive News, workers spent the week stockpiling transmissions. "We supply about 90 per cent of (CAMI's) transmissions, so it's related to that. Even though they were down, we ran all week ... We have a lot of transmissions stockpiled now because we didn't know if they were going to resolve it this week or not. It doesn't look like they're going to," said Tim McKinnon, chairman of Unifor Local 199 that represents St. Catharines. “We’re off until they get it settled. Every time they sneeze, we catch a cold. If they pick up more volume, we pick up more volume.” GM announced late last week that it is making production adjustments at St. Catharines, Spring Hill, and Flint Engine Operations. Both Spring Hill and Flint provide the engines for the Equinox. Also last week, Canadian supplier Magna International said it would suspend the supply of parts. The top concerns for the two sides are very different. For GM, it is the worry of having enough supply of Equnoxes for the demand. Sales rose 85 percent year-over-year in August. While GM does also build the Equinox in San Luis Potosi and Ramos Arizpe, Mexico, the two plants cannot match the output of CAMI (40,017 for the Mexican plants vs. 132,288 for CAMI). For Unifor, they want assurances that CAMI will remain the lead plant for the Equinox and want another product for the plant to build. Unifor has reached out to GM on Wednesday on possibly restarting negotiations. At this time, no word on whether two have or will meet. Source: Automotive News (Subscription Required), The Canadian Press via CBC View full article
  3. General Motors has been seeing sales of their passenger cars take a sharp drop as buyers latch on to crossovers, SUVs, and trucks. The first half of 2017 has seen GM's passenger car sales drop 19 percent. In June, passenger cars went into freefall with a 36 percent drop. This has General Motors making some drastic decisions in terms of products and production sites. "We are talking to (GM) right now about the products that they currently have" at underused car plants such as Hamtramck in Michigan and Lordstown in Ohio, and whether they might be replaced with newer, more popular vehicles such as crossovers, said Dennis Williams, president of the UAW. According to sources, GM is considering dropping six models after 2020. The models include, Buick LaCrosse Cadillac CT6 (See Update Below) Cadillac XTS Chevrolet Impala Chevrolet Sonic Chevrolet Volt Four of the vehicles listed (LaCrosse, CT6, Impala, and Volt) are built GM’s Hamtramck plant in Detroit. According to suppliers, Hamtramack's production output for the first half of 2017 is less than 35,000 vehicles, down 32 percent when compared to the same time last year. Other GM plants are able to produce 200,000 - 300,000 vehicles in a year, putting Hamtramck in a dangerous spot. GM must "create some innovative new products" to replace slow-selling sedans "or start closing plants," said Sam Fiorani, vice president of AutoForecast Solutions. A possibility of a new product is replacing the Volt with some sort of utility vehicle boasting a plug-in hybrid powertrain according to sources. Source: Reuters UPDATE: “There is absolutely, if I could speak all capitals now, they’d be coming out of my mouth. There is absolutely no plan, at all, to cancel the CT6,” said Cadillac president Johan de Nysschen to Jalopnik when asked about this report from Reuters. “That report came as a surprise to me, too.” de Nysschen said the brand is planning to invest more into the CT6 in the coming years as it will play an important role in the coming years. “The [CT6] forms a very important part of our product strategy going forward for the brand,” de Nysschen said. “The car also has a very major contribution to make to the shaping of brand perceptions, and the transformational process that Cadillac is undergoing as far as that is concerned.” Source: Jalopnik View full article
  4. General Motors has been seeing sales of their passenger cars take a sharp drop as buyers latch on to crossovers, SUVs, and trucks. The first half of 2017 has seen GM's passenger car sales drop 19 percent. In June, passenger cars went into freefall with a 36 percent drop. This has General Motors making some drastic decisions in terms of products and production sites. "We are talking to (GM) right now about the products that they currently have" at underused car plants such as Hamtramck in Michigan and Lordstown in Ohio, and whether they might be replaced with newer, more popular vehicles such as crossovers, said Dennis Williams, president of the UAW. According to sources, GM is considering dropping six models after 2020. The models include, Buick LaCrosse Cadillac CT6 (See Update Below) Cadillac XTS Chevrolet Impala Chevrolet Sonic Chevrolet Volt Four of the vehicles listed (LaCrosse, CT6, Impala, and Volt) are built GM’s Hamtramck plant in Detroit. According to suppliers, Hamtramack's production output for the first half of 2017 is less than 35,000 vehicles, down 32 percent when compared to the same time last year. Other GM plants are able to produce 200,000 - 300,000 vehicles in a year, putting Hamtramck in a dangerous spot. GM must "create some innovative new products" to replace slow-selling sedans "or start closing plants," said Sam Fiorani, vice president of AutoForecast Solutions. A possibility of a new product is replacing the Volt with some sort of utility vehicle boasting a plug-in hybrid powertrain according to sources. Source: Reuters UPDATE: “There is absolutely, if I could speak all capitals now, they’d be coming out of my mouth. There is absolutely no plan, at all, to cancel the CT6,” said Cadillac president Johan de Nysschen to Jalopnik when asked about this report from Reuters. “That report came as a surprise to me, too.” de Nysschen said the brand is planning to invest more into the CT6 in the coming years as it will play an important role in the coming years. “The [CT6] forms a very important part of our product strategy going forward for the brand,” de Nysschen said. “The car also has a very major contribution to make to the shaping of brand perceptions, and the transformational process that Cadillac is undergoing as far as that is concerned.” Source: Jalopnik
  5. Very impressive.... Not quite as fast as this Camaro though... Very impressive Drag week performance, this has been driven on the street... 251 in the quarter and done with GM power...awesome!
  6. GM Yields Sales Crown to FORD, or Did They? Motley Fool Report Interesting read, Ford won the month of May due to dumping a ton of auto's on the rental fleet market. GM had higher ATP than Ford, taking out rental sales, GM was the leader in North America. Some interesting takes on inventory on hand and how each company is dealing with the slow down. Read and sound off
  7. If you thought the pain and suffering against diesel would end anytime soon, think again. Today in Federal Court in Detroit, a class-action lawsuit was filed against General Motors by 705,000 owners of the 2011 to 2016 Chevrolet Silverado and GMC Sierra HDs equipped with the Duramax V8 diesel claiming the engine has illegal software to skirt emission tests. The 190-page suit says GM equipped the Duramax V8 with various software programs to pass regulatory emission tests, while spewing two to five times the legal limit when driven under regular conditions. Bloomberg notes the suit has 83 references to Volkswagen and alleges environmental damage caused by these trucks could surpass Volkswagen. “GM claimed its engineers had accomplished a remarkable reduction of diesel emissions,” said Steve Berman, a managing partner at Hagens Berman. “These GM trucks likely dumped as much excess poisonous emissions into our air as did the cheating Volkswagen passenger cars.” It should be noted that Berman has also represented drivers and dealerships against Volkswagen and Fiat Chrysler Automobile for their diesel issues. "These claims are baseless and we will vigorously defend ourselves. The Duramax Diesel Chevrolet Silverado and GMC Sierra comply with all U.S. EPA and CARB emissions regulations," General Motors said in a statement today. For those keeping score, this is the sixth automaker either being sued or under investigation for claims of cheating emission tests. Aside from Volkswagen and FCA, Diamler is currently under investigation in Germany for possible fraud charges relating to possible manipulation of emissions. In France, both PSA Group and Renault face their own investigation. Source: Bloomberg View full article
  8. If you thought the pain and suffering against diesel would end anytime soon, think again. Today in Federal Court in Detroit, a class-action lawsuit was filed against General Motors by 705,000 owners of the 2011 to 2016 Chevrolet Silverado and GMC Sierra HDs equipped with the Duramax V8 diesel claiming the engine has illegal software to skirt emission tests. The 190-page suit says GM equipped the Duramax V8 with various software programs to pass regulatory emission tests, while spewing two to five times the legal limit when driven under regular conditions. Bloomberg notes the suit has 83 references to Volkswagen and alleges environmental damage caused by these trucks could surpass Volkswagen. “GM claimed its engineers had accomplished a remarkable reduction of diesel emissions,” said Steve Berman, a managing partner at Hagens Berman. “These GM trucks likely dumped as much excess poisonous emissions into our air as did the cheating Volkswagen passenger cars.” It should be noted that Berman has also represented drivers and dealerships against Volkswagen and Fiat Chrysler Automobile for their diesel issues. "These claims are baseless and we will vigorously defend ourselves. The Duramax Diesel Chevrolet Silverado and GMC Sierra comply with all U.S. EPA and CARB emissions regulations," General Motors said in a statement today. For those keeping score, this is the sixth automaker either being sued or under investigation for claims of cheating emission tests. Aside from Volkswagen and FCA, Diamler is currently under investigation in Germany for possible fraud charges relating to possible manipulation of emissions. In France, both PSA Group and Renault face their own investigation. Source: Bloomberg
  9. 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. View full article
  10. 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.
  11. 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!
  12. 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?
  13. 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
  14. 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
  15. 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
  16. 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
  17. 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
  18. 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)
  19. 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
  20. 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.
  21. 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
  22. 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)
  23. 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
  24. 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
  25. 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

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