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Found 301 results

  1. Trump posted multiple tweets regarding the closure of GM's Lordstown Ohio plant today. In those tweets he says he has spoken to GM CEO Mary Barra about his displeasure over the closing of the facility. He said he demanded swift action on either the selling of the plant or reopening it. He further stated the Ms. Barra blamed the UAW for the closure. In a further series of tweets, Trump mentioned that GM and the UAW will be starting talks in September of this year, but that he is impatient with that timeline. Claiming that we have one of the best economies in history, he wants to see the plant opened or sold to another car company. While Lordstown has shuttered on reality, on paper it still needs to negotiate its closure with the UAW during contract negotiations later this year. In a report last week, it appears that General Motors has something in the works for the Lordstown plant that Governor DeWine said could be a possible sale of Lordstown. Some have pondered why Trump is focusing on the Lordstown facility out of all 5 GM plant closures and the answer seems to be in Ohio's status as a presidential election swing state. UAW 1112 President David Green has sent multiple letters to Trump asking for his assistance to help save the facility, but at last report has not heard back from the administration. View full article
  2. Trump posted multiple tweets regarding the closure of GM's Lordstown Ohio plant today. In those tweets he says he has spoken to GM CEO Mary Barra about his displeasure over the closing of the facility. He said he demanded swift action on either the selling of the plant or reopening it. He further stated the Ms. Barra blamed the UAW for the closure. In a further series of tweets, Trump mentioned that GM and the UAW will be starting talks in September of this year, but that he is impatient with that timeline. Claiming that we have one of the best economies in history, he wants to see the plant opened or sold to another car company. While Lordstown has shuttered on reality, on paper it still needs to negotiate its closure with the UAW during contract negotiations later this year. In a report last week, it appears that General Motors has something in the works for the Lordstown plant that Governor DeWine said could be a possible sale of Lordstown. Some have pondered why Trump is focusing on the Lordstown facility out of all 5 GM plant closures and the answer seems to be in Ohio's status as a presidential election swing state. UAW 1112 President David Green has sent multiple letters to Trump asking for his assistance to help save the facility, but at last report has not heard back from the administration.
  3. After announcing the closure of 5 plants back in November, General Motors ended production of the Chevrolet Cruze at the Lordstown Ohio assembly plant last week. Now, Ohio Governor Mike DeWine has said that in his discussions with General Motors, that the company has plans to make an announcement in about 4 to 6 weeks. DeWine said that it is his understanding that GM is looking to sell the plant, but that he doesn't know who GM is talking to. While he reiterated his uncertainty, he said The governor stated he or his office is in contact with GM at least twice a week. View full article
  4. After announcing the closure of 5 plants back in November, General Motors ended production of the Chevrolet Cruze at the Lordstown Ohio assembly plant last week. Now, Ohio Governor Mike DeWine has said that in his discussions with General Motors, that the company has plans to make an announcement in about 4 to 6 weeks. DeWine said that it is his understanding that GM is looking to sell the plant, but that he doesn't know who GM is talking to. While he reiterated his uncertainty, he said The governor stated he or his office is in contact with GM at least twice a week.
  5. The Buick LaCrosse and Chevrolet Volt have entered that great used car lot in the sky as of February 15th according to a GM announcement. The Cadillac CT6 and Chevrolet Impala were originally scheduled to end production in June of 2019 but have now had their production schedules extended until January 2020. GM states that the reason for the extension is to allow for continued availability of the CT6-V, Blackwing Twin-Turbo V8, and Super Cruise. The Cadillac CT6 is also built in Jinqiao, China. GM had announced the closure of 5 plants back in November, including Hamtramck. Lordstown Ohio will be the first plant to be unallocated with production stopping March 1st. GM has stated that this restructuring would boost company cash flow by $6B by the end of 2020.
  6. The Buick LaCrosse and Chevrolet Volt have entered that great used car lot in the sky as of February 15th according to a GM announcement. The Cadillac CT6 and Chevrolet Impala were originally scheduled to end production in June of 2019 but have now had their production schedules extended until January 2020. GM states that the reason for the extension is to allow for continued availability of the CT6-V, Blackwing Twin-Turbo V8, and Super Cruise. The Cadillac CT6 is also built in Jinqiao, China. GM had announced the closure of 5 plants back in November, including Hamtramck. Lordstown Ohio will be the first plant to be unallocated with production stopping March 1st. GM has stated that this restructuring would boost company cash flow by $6B by the end of 2020. View full article
  7. GM has announced total investments of $56M for capacity expansion to be spread over two of its existing manufacturing plants GM said in a press statement. $20M will be going to its Romulus Michigan propulsion plant to expand capacity of 10-speed transmission manufacturing. The investment will be used to purchase additional machining equipment. GM 10-speed is used in their full-size rear-wheel drive SUVs and trucks. The Romulus plant currently employs about 1,350 people and also builds V6 engines. Expansion of the Romulus plant implies GM is preparing to expand the transmission to more models. An additional $36M in investment will go into its Lansing Delta Township plant to expand production and get ready for the refreshed Chevrolet Traverse and Buick Enclave crossovers. Built in 2006, Lansing Delta Township is GM's newest manufacturing facility. View full article
  8. GM has announced total investments of $56M for capacity expansion to be spread over two of its existing manufacturing plants GM said in a press statement. $20M will be going to its Romulus Michigan propulsion plant to expand capacity of 10-speed transmission manufacturing. The investment will be used to purchase additional machining equipment. GM 10-speed is used in their full-size rear-wheel drive SUVs and trucks. The Romulus plant currently employs about 1,350 people and also builds V6 engines. Expansion of the Romulus plant implies GM is preparing to expand the transmission to more models. An additional $36M in investment will go into its Lansing Delta Township plant to expand production and get ready for the refreshed Chevrolet Traverse and Buick Enclave crossovers. Built in 2006, Lansing Delta Township is GM's newest manufacturing facility.
  9. Today is not a pleasant day if you're a white collar employee at General Motors. Last Friday, reports came out that GM would begin significant layoffs on their white-collar workforce. Back in November, GM announced that it would be slashing 8,000 white-collar workers as part of plans to reduce costs. Already, 2,250 workers have agreed to voluntary buyouts. This leaves 5,750 workers waiting to be cut. But a GM spokesman Pat Morrissey said the number of people being laid off will be roughly around 4,000 people. Morrissey also confirmed that the layoffs will take around two weeks to complete. "This will be implemented staff-by-staff and location-by-location over the next couple of weeks. We’re not going to get into which departments and when and where it’s happening. Some staffs have already implemented this over the last few weeks, but there’s more of it this week and next week," said Morrissey to the Detroit Free Press. Various unnamed GM employees have told the Free Press they have been told about the cuts either by leadership or through email. One unnamed employee said the cuts were to begin at 9:30 A.M. and continue till 6:30 P.M. The severance package being offered to workers will depend on how long they worked at GM. According to Automotive News, those who have worked at the company for 12 or more years will get a similar package to those who took the voluntary buyouts late last year - executives got a full- year of pay, while non-executives got six months. Health care benefits would be continued as part of the package. Source: Automotive News (Subscription Required), Detroit Free Press View full article
  10. Today is not a pleasant day if you're a white collar employee at General Motors. Last Friday, reports came out that GM would begin significant layoffs on their white-collar workforce. Back in November, GM announced that it would be slashing 8,000 white-collar workers as part of plans to reduce costs. Already, 2,250 workers have agreed to voluntary buyouts. This leaves 5,750 workers waiting to be cut. But a GM spokesman Pat Morrissey said the number of people being laid off will be roughly around 4,000 people. Morrissey also confirmed that the layoffs will take around two weeks to complete. "This will be implemented staff-by-staff and location-by-location over the next couple of weeks. We’re not going to get into which departments and when and where it’s happening. Some staffs have already implemented this over the last few weeks, but there’s more of it this week and next week," said Morrissey to the Detroit Free Press. Various unnamed GM employees have told the Free Press they have been told about the cuts either by leadership or through email. One unnamed employee said the cuts were to begin at 9:30 A.M. and continue till 6:30 P.M. The severance package being offered to workers will depend on how long they worked at GM. According to Automotive News, those who have worked at the company for 12 or more years will get a similar package to those who took the voluntary buyouts late last year - executives got a full- year of pay, while non-executives got six months. Health care benefits would be continued as part of the package. Source: Automotive News (Subscription Required), Detroit Free Press
  11. "Yesterday, General Motors met with representatives with Canadian union Unifor - the second in less in two weeks. Talks centered around Oshawa with Unifor pleading to reconsider plans of phasing out products at the plant to keep 3,000 jobs. But those talks went nowhere as GM is moving forward with their restructuring plans. "Unfortunately, all Unifor’s proposals would involve substantial incremental costs and a further deterioration of GM’s competitive position. Having completed an analysis of Unifor’s proposals, GM has determined that it cannot pursue them because they would not combat the declining economic and market factors that must be addressed," wrote GM's vice president of manufacturing and labor relations Gerald Johnson and president of GM Canada Travis Hester to Unifor president Jerry Dias in a letter. Unifor had proposed a number of ideas to GM keep Oshawa open including "continuing production of older trucks while the company looks for a longer-term option," according to The Detroit News. GM said no to the various ideas, but will support "retraining opportunities for Oshawa employees and working with businesses in the region to help facilitate relocation when the plant phases out production." Dias wasn't too happy with the result of talks, saying at a press conference yesterday that GM leaders "in my opinion haven’t reached deep enough or far enough to find a solution. We are not accepting the closure of our Oshawa facilities under any circumstance." Workers at Oshawa's afternoon shift staged a sit-down protest yesterday starting around 5:00 P.M. and lasting till 9:45 when GM decided to send them home. Photos and videos posted to Unifor Canada show workers sitting at their stations and buzzers sounding off. Automotive News reports that a second sit-down protest took place this morning for 90 minutes at 8:00 A.M. “We understand our union’s frustration but need to now work together to deliver support, transition and training for our employees for new opportunities over the coming year,” GM Canada spokeswoman Jennifer Wright. It is unclear if the protests will continue or how much production was lost. What is certain is that Unifor will hold a mass rally in Windsor on Friday. Source: Automotive News (Subscription Required), The Detroit News View full article
  12. "Yesterday, General Motors met with representatives with Canadian union Unifor - the second in less in two weeks. Talks centered around Oshawa with Unifor pleading to reconsider plans of phasing out products at the plant to keep 3,000 jobs. But those talks went nowhere as GM is moving forward with their restructuring plans. "Unfortunately, all Unifor’s proposals would involve substantial incremental costs and a further deterioration of GM’s competitive position. Having completed an analysis of Unifor’s proposals, GM has determined that it cannot pursue them because they would not combat the declining economic and market factors that must be addressed," wrote GM's vice president of manufacturing and labor relations Gerald Johnson and president of GM Canada Travis Hester to Unifor president Jerry Dias in a letter. Unifor had proposed a number of ideas to GM keep Oshawa open including "continuing production of older trucks while the company looks for a longer-term option," according to The Detroit News. GM said no to the various ideas, but will support "retraining opportunities for Oshawa employees and working with businesses in the region to help facilitate relocation when the plant phases out production." Dias wasn't too happy with the result of talks, saying at a press conference yesterday that GM leaders "in my opinion haven’t reached deep enough or far enough to find a solution. We are not accepting the closure of our Oshawa facilities under any circumstance." Workers at Oshawa's afternoon shift staged a sit-down protest yesterday starting around 5:00 P.M. and lasting till 9:45 when GM decided to send them home. Photos and videos posted to Unifor Canada show workers sitting at their stations and buzzers sounding off. Automotive News reports that a second sit-down protest took place this morning for 90 minutes at 8:00 A.M. “We understand our union’s frustration but need to now work together to deliver support, transition and training for our employees for new opportunities over the coming year,” GM Canada spokeswoman Jennifer Wright. It is unclear if the protests will continue or how much production was lost. What is certain is that Unifor will hold a mass rally in Windsor on Friday. Source: Automotive News (Subscription Required), The Detroit News
  13. Aside from announcing fourth-quarter sales numbers, General Motors had another big announcement today. GM's Product chief Mark Reuss will succeed Dan Ammann as the company's president. The appointment is effective immediately according to the company. “I am very proud to have spent my entire career at General Motors, and to now take on this new role is truly a great honor. With our current lineup of outstanding cars, trucks, and crossovers around the world, I’m looking forward to keeping our momentum going at full speed,” said Reuss in a statement. In November, GM announced Ammann would step down as GM President to take charge of GM's Cruise Automation unit. Reuss will still be overseeing GM's Global Product Group and Cadillac, but will also add the responsibility for GM's quality organization. He will also be tasked with building out a product development team that will focus on autonomous and electrified vehicles. Source: General Motors Mark Reuss Named General Motors President DETROIT — General Motors (NYSE: GM) today announced the appointment of Mark Reuss as company president, effective immediately. Reuss currently leads the Global Product Group and Cadillac and will now assume responsibility for the Quality organization. “Mark’s global operational experience, deep product knowledge and strong leadership will serve us well as we continue to strengthen our current business, take advantage of growth opportunities and further define the future of personal mobility,” said GM Chairman and CEO Mary Barra. “Mark has played a critical role in leading the development of the company’s award-winning vehicles while transitioning his team to prepare for growing electrification and autonomous technologies.” According to Reuss, “I am very proud to have spent my entire career at General Motors, and to now take on this new role is truly a great honor. With our current lineup of outstanding cars, trucks and crossovers around the world, I’m looking forward to keeping our momentum going at full speed.” Reuss added responsibilities for Cadillac and global portfolio planning in June 2018. Since then, he has been building an integrated product development and Cadillac organization to support an accelerated product and technology launch cadence and the brand’s global growth plans. Cadillac will be introducing a new vehicle every six months through 2021. Reuss has also been leading the transformation of the company’s global product development workforce and processes to drive world-class levels of engineering in advanced technologies and improve quality and speed to market. He is doubling the resources allocated to electric and autonomous vehicle programs in the next two years. View full article
  14. Aside from announcing fourth-quarter sales numbers, General Motors had another big announcement today. GM's Product chief Mark Reuss will succeed Dan Ammann as the company's president. The appointment is effective immediately according to the company. “I am very proud to have spent my entire career at General Motors, and to now take on this new role is truly a great honor. With our current lineup of outstanding cars, trucks, and crossovers around the world, I’m looking forward to keeping our momentum going at full speed,” said Reuss in a statement. In November, GM announced Ammann would step down as GM President to take charge of GM's Cruise Automation unit. Reuss will still be overseeing GM's Global Product Group and Cadillac, but will also add the responsibility for GM's quality organization. He will also be tasked with building out a product development team that will focus on autonomous and electrified vehicles. Source: General Motors Mark Reuss Named General Motors President DETROIT — General Motors (NYSE: GM) today announced the appointment of Mark Reuss as company president, effective immediately. Reuss currently leads the Global Product Group and Cadillac and will now assume responsibility for the Quality organization. “Mark’s global operational experience, deep product knowledge and strong leadership will serve us well as we continue to strengthen our current business, take advantage of growth opportunities and further define the future of personal mobility,” said GM Chairman and CEO Mary Barra. “Mark has played a critical role in leading the development of the company’s award-winning vehicles while transitioning his team to prepare for growing electrification and autonomous technologies.” According to Reuss, “I am very proud to have spent my entire career at General Motors, and to now take on this new role is truly a great honor. With our current lineup of outstanding cars, trucks and crossovers around the world, I’m looking forward to keeping our momentum going at full speed.” Reuss added responsibilities for Cadillac and global portfolio planning in June 2018. Since then, he has been building an integrated product development and Cadillac organization to support an accelerated product and technology launch cadence and the brand’s global growth plans. Cadillac will be introducing a new vehicle every six months through 2021. Reuss has also been leading the transformation of the company’s global product development workforce and processes to drive world-class levels of engineering in advanced technologies and improve quality and speed to market. He is doubling the resources allocated to electric and autonomous vehicle programs in the next two years.
  15. We've known for some time that both Tesla and General Motors would soon be reaching the 200,000 sales mark for electrics, meaning that $7,500 tax credit would begin phasing out. Yesterday, we reported Tesla cut prices on their 2019 model year vehicles to soften the blow. But what about GM? A source told Reuters that GM hit the 200,000 model milestone during the fourth quarter of last year - most likely happening in December. This begins the 15-month phase-out which will see the credit drop to $3,750 in April, $1,875 in October, and then disappear next April. GM declined to comment about this, but we're likely to find out later this morning as the company will be announcing fourth-quarter sales. Source: Reuters View full article
  16. We've known for some time that both Tesla and General Motors would soon be reaching the 200,000 sales mark for electrics, meaning that $7,500 tax credit would begin phasing out. Yesterday, we reported Tesla cut prices on their 2019 model year vehicles to soften the blow. But what about GM? A source told Reuters that GM hit the 200,000 model milestone during the fourth quarter of last year - most likely happening in December. This begins the 15-month phase-out which will see the credit drop to $3,750 in April, $1,875 in October, and then disappear next April. GM declined to comment about this, but we're likely to find out later this morning as the company will be announcing fourth-quarter sales. Source: Reuters
  17. General Motors got a rude awakening if they picked up a copy of the Detroit Free Press or Detroit News. Right on the front page is a large ad by Canadian union Unifor accusing GM executives of having the lack of support toward Canadian and U.S. plant workers after announcing certain products would be "unallocated" and bringing up the possible worry of plant closures. One ad says, "U.S. and Canadian workers made GM," that follows with the question, "Why should our jobs and our products go to Mexico? Keep our plants open." Automotive News notes that the ads weren't in any Candian papers. The most likely reason for that is that Unifor officials would be meeting with GM today at the Renaissance Center. “GM needs to know that we are not accepting their announcement. It is crystal clear to myself and the leadership of the union that GM is leaving Canada. The newspaper ads are to let them know we are dead serious,” said Unifor president Jerry Dias. Dias said the ads are to show GM that it will have “a real problem” selling new vehicles to consumers on either side of the border starting next year. “GM has betrayed consumers in Canada and the United States. People are finally saying to GM, ‘You have gone too far.’ This is going on on both sides of the border,” he said. GM in an emailed statement to Automotive News said, "The GM restructuring decisions are extremely difficult for all of us in Oshawa, but we believe the best approach is to work together to support our employees including support for local training and transition initiatives in the Durham Region. We remain strongly committed to Canada and will continue to engage in dialogue with Unifor." GM also confirmed the meeting with Unifor but declined to provide any details about it. Kristin Dziczek, vice president of Industry, Labor & Economics at the Center for Automotive Research said Unifor faces an uphill battle with GM as their negotiations don't till 2020, a year after the UAW does theirs. "The UAW is going to go after any new product allocations for their two plants that are set to close and others that are underutilized," she said. "If there's product to be got, the UAW is going to go after it first." Dziczek also notes that Unifor's ads have "somewhat have a point" regarding GM's plants in Mexico, which are more utilized than many plants in Canada and the U.S. "They have to look like they're fighting like mad, and there are lots of ways of doing that. This is one way." We have a picture of the ad from the Detroit Free Press below if you're interested in what it looks like. Source: Automotive News (Subscription Required)
  18. General Motors got a rude awakening if they picked up a copy of the Detroit Free Press or Detroit News. Right on the front page is a large ad by Canadian union Unifor accusing GM executives of having the lack of support toward Canadian and U.S. plant workers after announcing certain products would be "unallocated" and bringing up the possible worry of plant closures. One ad says, "U.S. and Canadian workers made GM," that follows with the question, "Why should our jobs and our products go to Mexico? Keep our plants open." Automotive News notes that the ads weren't in any Candian papers. The most likely reason for that is that Unifor officials would be meeting with GM today at the Renaissance Center. “GM needs to know that we are not accepting their announcement. It is crystal clear to myself and the leadership of the union that GM is leaving Canada. The newspaper ads are to let them know we are dead serious,” said Unifor president Jerry Dias. Dias said the ads are to show GM that it will have “a real problem” selling new vehicles to consumers on either side of the border starting next year. “GM has betrayed consumers in Canada and the United States. People are finally saying to GM, ‘You have gone too far.’ This is going on on both sides of the border,” he said. GM in an emailed statement to Automotive News said, "The GM restructuring decisions are extremely difficult for all of us in Oshawa, but we believe the best approach is to work together to support our employees including support for local training and transition initiatives in the Durham Region. We remain strongly committed to Canada and will continue to engage in dialogue with Unifor." GM also confirmed the meeting with Unifor but declined to provide any details about it. Kristin Dziczek, vice president of Industry, Labor & Economics at the Center for Automotive Research said Unifor faces an uphill battle with GM as their negotiations don't till 2020, a year after the UAW does theirs. "The UAW is going to go after any new product allocations for their two plants that are set to close and others that are underutilized," she said. "If there's product to be got, the UAW is going to go after it first." Dziczek also notes that Unifor's ads have "somewhat have a point" regarding GM's plants in Mexico, which are more utilized than many plants in Canada and the U.S. "They have to look like they're fighting like mad, and there are lots of ways of doing that. This is one way." We have a picture of the ad from the Detroit Free Press below if you're interested in what it looks like. Source: Automotive News (Subscription Required) View full article
  19. General Motors' upcoming restructuring plan where more than 10,000 jobs will be cut and five factories losing products has caused many politicians to become very upset. Yesterday, CEO Mary Barra traveled to Capitol Hill to try an mitigate the social damage by this announcement. Those expecting Barra to backpedal or balk under pressure from various lawmakers on moving production of certain vehicles out of Mexico to plants in the U.S. would come away disappointed. “I want to make sure that the workforce knows that there are limitations and we do have an overcapacity across the country. I understand this is something that impacts the country and I understand that there is a lot of emotion and concern about it,” Barra told reporters in a press conference after meeting Senators Sherrod Brown (Democrat) and Rob Portman (Republican) of Ohio. The two senators have been critical about the plan and pushed Barra in their meeting to get a new product in Lordstown, whether that be one of the 20 new EVs GM is planning or move production of the Chevrolet Blazer from Mexico. “GM says it expects to build 20 new EVs in next five years. We want one or more of those vehicles to be built in Lordstown, Ohio. That’s where it belongs,” said Portman. Barra said during the meeting she'll "keep an open mind but she doesn't want to raise expectations." Speaking to Reuters, Barra said it would “very costly” to shift production from Mexico of the Chevrolet Blazer that will begin shortly. But she did mention "GM planned to add other products at U.S. plants next year." Whether that includes Lordstown or not remains to be seen as negotiations with the UAW kick off next year. President Donald Trump has been very critical of this plan, saying he could eliminate federal subsidies on electric cars - something that would hurt other automakers more than GM as it's close to 200,000 mark where the $7,500 subsidy begins to fade. When asked about this, Barra gave an indirect answer. “I understand this is something that impacts the country and I understand that there is a lot of emotion and concern about it,” said Barra. She continued by saying GM wanted to “do the right thing for our employees but also make sure General Motors is strong and lean in the future.” Source: Automotive News (Subscription Required), Detroit Free Press, Reuters GM Statement: Chairman and CEO Mary Barra on meetings with members of Congress from Ohio and Maryland “I had very constructive meetings with members of Congress from Ohio and Maryland. I share their concerns about the impact the actions we announced last week will have on our employees, their families and the communities. These were very difficult decisions -- decisions I take very personally. I informed the members that many hourly employees at the impacted U.S. plants will have the opportunity to work at other U.S. GM plants and that we are committed to working with them to minimize the impact on the communities. I also informed them that all salaried GM workers impacted by these actions are being offered outplacement services to help them transition to new jobs.” View full article
  20. General Motors' upcoming restructuring plan where more than 10,000 jobs will be cut and five factories losing products has caused many politicians to become very upset. Yesterday, CEO Mary Barra traveled to Capitol Hill to try an mitigate the social damage by this announcement. Those expecting Barra to backpedal or balk under pressure from various lawmakers on moving production of certain vehicles out of Mexico to plants in the U.S. would come away disappointed. “I want to make sure that the workforce knows that there are limitations and we do have an overcapacity across the country. I understand this is something that impacts the country and I understand that there is a lot of emotion and concern about it,” Barra told reporters in a press conference after meeting Senators Sherrod Brown (Democrat) and Rob Portman (Republican) of Ohio. The two senators have been critical about the plan and pushed Barra in their meeting to get a new product in Lordstown, whether that be one of the 20 new EVs GM is planning or move production of the Chevrolet Blazer from Mexico. “GM says it expects to build 20 new EVs in next five years. We want one or more of those vehicles to be built in Lordstown, Ohio. That’s where it belongs,” said Portman. Barra said during the meeting she'll "keep an open mind but she doesn't want to raise expectations." Speaking to Reuters, Barra said it would “very costly” to shift production from Mexico of the Chevrolet Blazer that will begin shortly. But she did mention "GM planned to add other products at U.S. plants next year." Whether that includes Lordstown or not remains to be seen as negotiations with the UAW kick off next year. President Donald Trump has been very critical of this plan, saying he could eliminate federal subsidies on electric cars - something that would hurt other automakers more than GM as it's close to 200,000 mark where the $7,500 subsidy begins to fade. When asked about this, Barra gave an indirect answer. “I understand this is something that impacts the country and I understand that there is a lot of emotion and concern about it,” said Barra. She continued by saying GM wanted to “do the right thing for our employees but also make sure General Motors is strong and lean in the future.” Source: Automotive News (Subscription Required), Detroit Free Press, Reuters GM Statement: Chairman and CEO Mary Barra on meetings with members of Congress from Ohio and Maryland “I had very constructive meetings with members of Congress from Ohio and Maryland. I share their concerns about the impact the actions we announced last week will have on our employees, their families and the communities. These were very difficult decisions -- decisions I take very personally. I informed the members that many hourly employees at the impacted U.S. plants will have the opportunity to work at other U.S. GM plants and that we are committed to working with them to minimize the impact on the communities. I also informed them that all salaried GM workers impacted by these actions are being offered outplacement services to help them transition to new jobs.”
  21. This morning, General Motors announced an overhaul of its operations in 2019 which will involve cutting more than 10,000 workers and possibly closing five plants by the end of the year. GM said the cuts should boost cash flow by six billion by the end of 2020. “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future. We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success,” said GM Chairman and CEO Mary Barra in a statement. The plants up for possible closure are, Detroit-Hamtramck Assembly in Michigan - Home to Buick LaCrosse, Cadillac CT6, Chevrolet Impala, and Chevrolet Volt. Lordstown Assembly in Ohio - Home to Chevrolet Cruze. Oshawa Assembly in Ontario, Canada - Home to Cadillac XTS, Chevrolet Impala, and finishing production of last-generation Chevrolet Silverado and GMC Sierra Baltimore Operations in Maryland (Propulsion) Warren Transmission Operations in Michigan Hints of this announcement came out last night when reports from CTV and The Globe and Mail in Canada reported the closure of Oshawa. The plant closures also mean a number of models being dropped - including the LaCrosse, CT6, Impala, and Volt. The Cruze will be built in Mexico for other markets. It was expected GM was going to make some changes to address the underutilization of its plants. Dara from the Center for Automotive Research says GM represents 1 million of the 3.2 million units of underutilized capacity in the U.S. through October. This announcement comes on the eve of negotiations with the UAW next year and Unifor in 2020. The UAW has announced that it will challenge GM's decision "through every legal, contractual and collective bargaining avenue open to our membership." The announcement has brought pushback from politicians. Canadian Prime Minister Justin Trudeau expressed "deep disappointment" with the decision. U.S. Senator Rob Portman, a Republican from Ohio express frustration with the possible shutdown of Lordstown. One group not disappointed with the news is Wall Street. GM stock rose 6.18 percent to $38.00 per share at the time of this writing. Source: Automotive News (Subscription Required), Bloomberg, Reuters, Twitter, General Motors General Motors Accelerates Transformation Transforming the global enterprise to advance the company’s vision of Zero Crashes, Zero Emissions, Zero Congestion Taking cost actions and optimizing capital expenditures to drive annual run-rate cash savings of approximately $6 billion by year-end 2020 DETROIT – General Motors (NYSE: GM) will accelerate its transformation for the future, building on the comprehensive strategy it laid out in 2015 to strengthen its core business, capitalize on the future of personal mobility and drive significant cost efficiencies. Today, GM is continuing to take proactive steps to improve overall business performance including the reorganization of its global product development staffs, the realignment of its manufacturing capacity and a reduction of salaried workforce. These actions are expected to increase annual adjusted automotive free cash flow by $6 billion by year-end 2020 on a run-rate basis. “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future,” said GM Chairman and CEO Mary Barra. “We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success.” Contributing to the cash savings of approximately $6 billion are cost reductions of $4.5 billion and a lower capital expenditure annual run rate of almost $1.5 billion. The actions include: Transforming product development – GM is evolving its global product development workforce and processes to drive world-class levels of engineering in advanced technologies, and to improve quality and speed to market. Resources allocated to electric and autonomous vehicle programs will double in the next two years. Additional actions include: Increasing high-quality component sharing across the portfolio, especially those not visible and perceptible to customers. Expanding the use of virtual tools to lower development time and costs. Integrating its vehicle and propulsion engineering teams. Compressing its global product development campuses. Optimizing product portfolio – GM has recently invested in newer, highly efficient vehicle architectures, especially in trucks, crossovers and SUVs. GM now intends to prioritize future vehicle investments in its next-generation battery-electric architectures. As the current vehicle portfolio is optimized, it is expected that more than 75 percent of GM’s global sales volume will come from five vehicle architectures by early next decade. Increasing capacity utilization – In the past four years, GM has refocused capital and resources to support the growth of its crossovers, SUVs and trucks, adding shifts and investing $6.6 billion in U.S. plants that have created or maintained 17,600 jobs. With changing customer preferences in the U.S. and in response to market-related volume declines in cars, future products will be allocated to fewer plants next year. Assembly plants that will be unallocated in 2019 include: Oshawa Assembly in Oshawa, Ontario, Canada. Detroit-Hamtramck Assembly in Detroit. Lordstown Assembly in Warren, Ohio. Propulsion plants that will be unallocated in 2019 include: Baltimore Operations in White Marsh, Maryland. Warren Transmission Operations in Warren, Michigan. In addition to the previously announced closure of the assembly plant in Gunsan, Korea, GM will cease the operations of two additional plants outside North America by the end of 2019. These manufacturing actions are expected to significantly increase capacity utilization. To further enhance business performance, GM will continue working to improve other manufacturing costs, productivity and the competitiveness of wages and benefits. Staffing transformation – The company is transforming its global workforce to ensure it has the right skill sets for today and the future, while driving efficiencies through the utilization of best-in-class tools. Actions are being taken to reduce salaried and salaried contract staff by 15 percent, which includes 25 percent fewer executives to streamline decision making. Barra added, “These actions will increase the long-term profit and cash generation potential of the company and improve resilience through the cycle.” GM expects to fund the restructuring costs through a new credit facility that will further improve the company’s strong liquidity position and enhance its financial flexibility. GM expects to record pre-tax charges of $3.0 billion to $3.8 billion related to these actions, including up to $1.8 billion of non-cash accelerated asset write-downs and pension charges, and up to $2.0 billion of employee-related and other cash-based expenses. The majority of these charges will be considered special for EBIT-adjusted, EPS diluted-adjusted and adjusted automotive free cash flow purposes. The majority of these charges will be incurred in the fourth quarter of 2018 and first quarter of 2019, with some additional costs incurred through the remainder of 2019.
  22. This morning, General Motors announced an overhaul of its operations in 2019 which will involve cutting more than 10,000 workers and possibly closing five plants by the end of the year. GM said the cuts should boost cash flow by six billion by the end of 2020. “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future. We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success,” said GM Chairman and CEO Mary Barra in a statement. The plants up for possible closure are, Detroit-Hamtramck Assembly in Michigan - Home to Buick LaCrosse, Cadillac CT6, Chevrolet Impala, and Chevrolet Volt. Lordstown Assembly in Ohio - Home to Chevrolet Cruze. Oshawa Assembly in Ontario, Canada - Home to Cadillac XTS, Chevrolet Impala, and finishing production of last-generation Chevrolet Silverado and GMC Sierra Baltimore Operations in Maryland (Propulsion) Warren Transmission Operations in Michigan Hints of this announcement came out last night when reports from CTV and The Globe and Mail in Canada reported the closure of Oshawa. The plant closures also mean a number of models being dropped - including the LaCrosse, CT6, Impala, and Volt. The Cruze will be built in Mexico for other markets. It was expected GM was going to make some changes to address the underutilization of its plants. Dara from the Center for Automotive Research says GM represents 1 million of the 3.2 million units of underutilized capacity in the U.S. through October. This announcement comes on the eve of negotiations with the UAW next year and Unifor in 2020. The UAW has announced that it will challenge GM's decision "through every legal, contractual and collective bargaining avenue open to our membership." The announcement has brought pushback from politicians. Canadian Prime Minister Justin Trudeau expressed "deep disappointment" with the decision. U.S. Senator Rob Portman, a Republican from Ohio express frustration with the possible shutdown of Lordstown. One group not disappointed with the news is Wall Street. GM stock rose 6.18 percent to $38.00 per share at the time of this writing. Source: Automotive News (Subscription Required), Bloomberg, Reuters, Twitter, General Motors General Motors Accelerates Transformation Transforming the global enterprise to advance the company’s vision of Zero Crashes, Zero Emissions, Zero Congestion Taking cost actions and optimizing capital expenditures to drive annual run-rate cash savings of approximately $6 billion by year-end 2020 DETROIT – General Motors (NYSE: GM) will accelerate its transformation for the future, building on the comprehensive strategy it laid out in 2015 to strengthen its core business, capitalize on the future of personal mobility and drive significant cost efficiencies. Today, GM is continuing to take proactive steps to improve overall business performance including the reorganization of its global product development staffs, the realignment of its manufacturing capacity and a reduction of salaried workforce. These actions are expected to increase annual adjusted automotive free cash flow by $6 billion by year-end 2020 on a run-rate basis. “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future,” said GM Chairman and CEO Mary Barra. “We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success.” Contributing to the cash savings of approximately $6 billion are cost reductions of $4.5 billion and a lower capital expenditure annual run rate of almost $1.5 billion. The actions include: Transforming product development – GM is evolving its global product development workforce and processes to drive world-class levels of engineering in advanced technologies, and to improve quality and speed to market. Resources allocated to electric and autonomous vehicle programs will double in the next two years. Additional actions include: Increasing high-quality component sharing across the portfolio, especially those not visible and perceptible to customers. Expanding the use of virtual tools to lower development time and costs. Integrating its vehicle and propulsion engineering teams. Compressing its global product development campuses. Optimizing product portfolio – GM has recently invested in newer, highly efficient vehicle architectures, especially in trucks, crossovers and SUVs. GM now intends to prioritize future vehicle investments in its next-generation battery-electric architectures. As the current vehicle portfolio is optimized, it is expected that more than 75 percent of GM’s global sales volume will come from five vehicle architectures by early next decade. Increasing capacity utilization – In the past four years, GM has refocused capital and resources to support the growth of its crossovers, SUVs and trucks, adding shifts and investing $6.6 billion in U.S. plants that have created or maintained 17,600 jobs. With changing customer preferences in the U.S. and in response to market-related volume declines in cars, future products will be allocated to fewer plants next year. Assembly plants that will be unallocated in 2019 include: Oshawa Assembly in Oshawa, Ontario, Canada. Detroit-Hamtramck Assembly in Detroit. Lordstown Assembly in Warren, Ohio. Propulsion plants that will be unallocated in 2019 include: Baltimore Operations in White Marsh, Maryland. Warren Transmission Operations in Warren, Michigan. In addition to the previously announced closure of the assembly plant in Gunsan, Korea, GM will cease the operations of two additional plants outside North America by the end of 2019. These manufacturing actions are expected to significantly increase capacity utilization. To further enhance business performance, GM will continue working to improve other manufacturing costs, productivity and the competitiveness of wages and benefits. Staffing transformation – The company is transforming its global workforce to ensure it has the right skill sets for today and the future, while driving efficiencies through the utilization of best-in-class tools. Actions are being taken to reduce salaried and salaried contract staff by 15 percent, which includes 25 percent fewer executives to streamline decision making. Barra added, “These actions will increase the long-term profit and cash generation potential of the company and improve resilience through the cycle.” GM expects to fund the restructuring costs through a new credit facility that will further improve the company’s strong liquidity position and enhance its financial flexibility. GM expects to record pre-tax charges of $3.0 billion to $3.8 billion related to these actions, including up to $1.8 billion of non-cash accelerated asset write-downs and pension charges, and up to $2.0 billion of employee-related and other cash-based expenses. The majority of these charges will be considered special for EBIT-adjusted, EPS diluted-adjusted and adjusted automotive free cash flow purposes. The majority of these charges will be incurred in the fourth quarter of 2018 and first quarter of 2019, with some additional costs incurred through the remainder of 2019. View full article
  23. Manufacturing Revamp? GM spoke out a week ago about a national electric vehicle mandate that they were in favor of. Tesla has reported a bigger than expected profitable quarter and if you Bing or Google National electric vehicle mandate, the stories covering this is huge with more auto companies in favor than against. GM, Honda and the State of California have all as of 10-26-2018 officially pushed back on Trump and his administration in regards to the U.S. fuel economy standards. The short story of what you can read at the bottom in the links is that they are saying the federal government should embrace a zero emission vehicle sales mandate nationwide with a program start date of 2021. Honda took it a step forward and said a nominal steady increase should continue on all auto's and not a freeze. To quote Mark Reuss, GM's executive vice president of global product development, "We know that we can do better than the Trump proposal. We know that the industry can do better than that." GM states that a nationwide program would put 7 million long-range electric cars on the road and slash 375 million tons of carbon dioxide emissions by 2030 compared with existing zero-emission mandates in this country. For details read the automotive news story as if really digs into the details of what is being called Faulty Modeling by the current administration and EPA. The story does quote the free-market Institute for Energy Research who says the existing standards are too aggressive penalizing suburban and rural consumers who are concerned about driving range and reliability. Industry uncertainty is very clear with some taking a big wait and see like FCA on one end and then GM, Honda and California on the other end saying the current administrations plan for revoking California's rule-making authority is flawed and should be scrapped. To quote Reuss in regards to a national electric car program: "It will facilitate more makers to be able to really focus on development of electric vehicles more efficiently, and take the guesswork out of what we think may or may not happen. We're making bets on a lot of uncertainty, which is highly destructive to capital." So what does this have to do with the title of "Fast Lane to EVs for GM? Some Think So!" Green car report got a no comment from GM when asked about a number of changes going on including upcoming announcements in regards to the Hamtramck plant which currently builds the Volt and is under utilized. The potential spin-off of Cruise Automation and or Maven, their profitable third quarter report and more according to multiple sources they say. To achieve the executive plan of Mary Barra of 20 new EVs by 2023 announced last fall GM is planning to make a series of manufacturing-location and development changes in motion to electrify it's fleet according to sources the story says. UAW and GM were in a give and take negotiations last year where the Buick LaCrosse, Cadillac CT6 and Chevrolet Impala were all on the possible kill off list as large sedans have struggled to sell in the current market lately. Some of these we know will continue on. GM has been cagey about the role of Plug-in hybrids with the slow selling of the Volt especially compared to the Toyota Prius Prime with a lower plug-in range, yet demand for the BOLT on the other hand has been very strong as GM has announced plans to expand production at the plant this year. GM's plan to unveil new long range electric CUVs also show that major changes in manufacturing will have to happen. GM is pushing ahead with a all new electric vehicle platform that will cover compact to full size electric long range auto's including family-sized crossovers. They have announced their all-new battery pack that will go into generation 2 EVs that will break the $100 / kWh barrier for lithium-ion packs allowing for a range of scale for both the China and US market along with the rest of the global market. This all comes on GM showing off their eCOPO Camaro that has an 800 volt battery pack very similar it would seem to the 800 volt pack that Porsche is using. This supports 700HP / 600 lb-ft of torque motors. Fast Charging that is 80% range in 15 min. it would appear that GM is embracing the future of automotive driving. Remember the Buick Enspire EV that has a 370 mile range battery pack, AWD with 550 HP with a 0 to 60 in 4 seconds. Then keep in mind while these are for China only, it would not be totally out of line for GM to change their mind and bring the Buick Velite 6 plug-in hybrid and long-range electric auto to the US after manufacturing starts in China. The Velite name used in China for all Hybrid and electric Buicks is currently on the Volt 2.0 platform, but the Velite 6 will be based on GMs new Modular compact to full size platform according to the Fool story. Buick Velite plug-in Hybrid will have a 435 mile range with battery pack / generator combo as it will use the new high-performance ternary lithium-ion battery pack built in the new GM battery plant in Shanghai. GM currently will not say much more about the new generation battery packs only they will release more info at a later date, possibly at an American auto show. Long story short, Motley Fool has a rare Double Down buy on GM stock with 20 new EV models for the global and US market, GM is showing true forward thinking that should place them well above other auto OEMs. GM has a $10,000 award for naming of their new $1,000 electric bike they are putting into production for sale across the U.S. According to GM the person responsible for naming this new foldable eBike will win $10,000 and all one needs to do is go to https://ebikebrandchallenge.com/call-for-entries to enter. You have till November 26th to enter. Nine finalist will win $1,000 each also. With the largest bike market being China, this totally makes sense for GM to get into and the U.S. as well as other markets will benefit from a bike that is assisted with electric drive to go nice and fast. So with so much electrification going on, why would one not expect GM to do a massive change in their manufacturing of auto's as they move to embrace a 36 month revolutionary role out or electric vehicles, bikes and who knows what else. Green Car Report Story Chicago Tribune Story on Mandate CNN National ZEV Mandate Story Automotive News story on Mandate Bing Search on Mandate Motley Fool story on Battery packs from GM U.S. Department of Energy PDF on GM's Li-Ion battery pack manufacturing eCOPO Camaro Media Release from GM GM eBike for Sale
  24. By the end of next year, GM's self-driving car unit was planning to have a fleet of self-driving taxis available those in San Fransisco, California. But a new report from Reuters casts some serious doubts on this goal. Speaking to a number of current and former GM and Cruise Automation employees, and autonomous vehicle technology experts, Reuters' report paints a picture of various issues that could derail Cruise's goal. The driverless Cruise vehicles (Chevrolet Bolt EVs) have struggled to determine whether objects on the road are moving or stationary. Example: Vehicles have stopped or hesitated when driving past a group of parked bicycles or motorcycles. Software has failed to identify pedestrians, "and has mistakenly seen phantom bicycles, causing the cars to brake erratically" Sources claim that software also slows the messages between the car’s sensors and computers Cruise doesn't have a data-sharing collaboration with the San Francisco Fire Department - necessary to train the cars when a fire truck is responding to an emergency. Numerous milestones have been missed such as logging a million miles a month by early 2018. Cruise is aware of the various issues. CEO Kyle Vogt told Reuters said the next-generation of hardware and software would solve various issues. General Motors' President Dan Ammann said that the 2019 goal would only move forward "if the Cruise system achieves the safety standards the automaker has established, and shown to regulators." At the current moment, that goal seems quite far away. Source: Reuters
  25. By the end of next year, GM's self-driving car unit was planning to have a fleet of self-driving taxis available those in San Fransisco, California. But a new report from Reuters casts some serious doubts on this goal. Speaking to a number of current and former GM and Cruise Automation employees, and autonomous vehicle technology experts, Reuters' report paints a picture of various issues that could derail Cruise's goal. The driverless Cruise vehicles (Chevrolet Bolt EVs) have struggled to determine whether objects on the road are moving or stationary. Example: Vehicles have stopped or hesitated when driving past a group of parked bicycles or motorcycles. Software has failed to identify pedestrians, "and has mistakenly seen phantom bicycles, causing the cars to brake erratically" Sources claim that software also slows the messages between the car’s sensors and computers Cruise doesn't have a data-sharing collaboration with the San Francisco Fire Department - necessary to train the cars when a fire truck is responding to an emergency. Numerous milestones have been missed such as logging a million miles a month by early 2018. Cruise is aware of the various issues. CEO Kyle Vogt told Reuters said the next-generation of hardware and software would solve various issues. General Motors' President Dan Ammann said that the 2019 goal would only move forward "if the Cruise system achieves the safety standards the automaker has established, and shown to regulators." At the current moment, that goal seems quite far away. Source: Reuters View full article

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