Archive for the ‘GM’ Category

GM Ponders $1B Investment in Missouri Plant

Automaker reportedly meeting with governor about incentives.

by on May.02, 2019

GM may invest as much as $1 billion into its Wentzville, Missouri plant that produces midsize trucks and full-size vans.

General Motors is apparently preparing for a major investment at its big truck assembly plant in Wentzville, Missouri, according to media reports from St. Louis.

GM officials are expected to meet with Missouri Governor Mike Parson to discuss what is described as a $1 billion expansion project at Wentzville, which currently employs 3,800 hourly and salaried employees, St Louis Today reported.

Plant News!

No details about the expansion have been disclosed but GM is expected to request a package of incentives from the state of Missouri to help pay for job training and retooling the plant, which is located about 40 miles from St. Louis. (more…)

GM CEO Barra Confirms Plans for Electric Pickup

Could target competitors from Ford, Rivian, Tesla.

by on Apr.30, 2019

GM claims it "future-proofed" the current Silverado to accept electrified drivetrain options.

General Motors will build an all-electric pickup, CEO Mary Barra said Tuesday, confirming a report that first appeared in TheDetroitBureau.com in February.

The executive declined to provide details about the project, but the news took few industry observers by surprise considering that Ford and Tesla have also announced plans to build all-electric trucks, as has Detroit-based start-up Rivian.

Electrifying News!

GM “will not cede our leadership” in the truck segment, Barra said during a conference call with industry analysts and media to discuss the automaker’s first-quarter earnings.

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Strong Sales of Pricey Pickups Help GM Beat Earnings Estimate

But sliding U.S. market share worries investors.

by on Apr.30, 2019

GM CEO Mary Barra shown in March announcing a major investment in battery-car production.

Cost-cutting and pricey pickups. That was the formula for General Motors as it managed to beat Wall Street’s earnings expectations for the first quarter of 2019 with adjusted earnings of $1.41 a share, 30 cents better than the consensus forecast.

But that wasn’t enough to satisfy investors who have been driving down GM shares in morning trading, the market appearing to react to weak sales and the automaker’s home market share decline from 16.9% during the fourth quarter of 2018 to 15.6% during the most recent three-month period.

Earnings News!

“GM’s first-quarter operating results were in line with expectations we shared in January,” CEO and Chairman Mary Barra said during a conference call with analysts and the media Tuesday morning. “My confidence in the year ahead remains strong, driven by our all-new full-size truck launch and our ongoing business transformation.”

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GM Adding Second Shift at Kentucky Corvette Plant

Move means 400 more jobs at Bowling Green site.

by on Apr.25, 2019

General Motors is adding a second shift and more than 400 hourly jobs at its Bowling Green (Kentucky) Assembly plant.

The next generation Corvette hasn’t even been unveiled yet, but General Motors is betting the new ’Vette will be a runaway hit by adding 400 jobs to the company’s Corvette Assembly plant in Bowling Green, Kentucky.

GM said it is adding a second shift in Bowling Green to support production of the Next Generation Corvette, which will be revealed on July 18, 2019. The addition of the second shift will increase the plant’s workforce to more than 1,300 people, GM said.

Business News!

“The Corvette’s iconic status owes so much to the men and women of Bowling Green, where it has been built exclusively for almost 40 years,” said GM Chairman and CEO Mary Barra. (more…)

Big Three Group Supports Trump Report on USMCA Benefits

Support comes despite conflicting study from IMF.

by on Apr.19, 2019

A new report from the U.S. Trade Representative says the new USMCA will bring substantial benefits; however, an IMF study suggests otherwise.

Detroit’s automakers are rushing to defend a report from the Trump administration that touts the benefits of the new North American Free Trade Agreement.

The Trump administration report, produced by the United States Trade Representative (USTR), was released Thursday in advance of less than an underwhelming independent government estimate of the economic impact of proposed U.S. Mexico Canada Agreement, or USMCA.

Trade News!

Trump has portrayed the new agreement he negotiated as a replacement for NAFTA as likely to lead to a rush of new investment and jobs in the U.S. and an end to the outsourcing he and others have blamed for a hollowing out of American manufacturing. (more…)

First Drive: 2019 Chevrolet Colorado Z71 Crew Cab

Stylish looks with ample power and comfort — a recipe for success.

by on Apr.16, 2019

The Chevy Colorado Z71 offers a do-it-all vehicle in a growing and competitive segment.

Even with the car business facing some stiffening headwinds, trucks are still going strong and manufacturers are driving interest the segment with new models.

For example, the Chevrolet Colorado has been vital to the growth of the midsized truck market, which has expanded recently, prompting manufacturers to tinker with variants such as the one I drove recently.

Reviews You Can Trust!

The 2019 Colorado Z71 Crew Cab Short Box with four-wheel drive has a bold presence and plenty of curb appeal as well as a spirited powertrain as well as the ground clearance to ride confidently on dirt roads or even off road. (more…)

Cadillac Lifts Covers on New CT5 Sedan

Despite push into utes, brand remains “very much committed to sedans.”

by on Apr.16, 2019

The Sport edition of the 2020 Cadillac CT5 reveals the brand's commitment to sedans that are fun to drive.

Cadillac has rolled out a procession of new utility vehicles during the past several years, including the compact XT4 that debuted at the New York International Auto Show in 2018. General Motors’ luxury brand is back in the Big Apple this week with another new entry, though the debut of the CT5 sedan shows Caddy won’t be a one-trick pony.

The brand remains “very much committed to sedans,” said Caddy President Steve Carlisle, even if the options will be fewer than had been planned earlier in the decade.

News You Can Trust!

Meant to replace the old CTS, the new sedan slots under the big CT6, the current Cadillac flagship which is, at least for now, set to go out of production in the next year. As such, the new model will have to put the best face forward for the brand, especially in the Chinese market where sedans remain a popular choice among high-line consumers. (more…)

It’s Official! Really! GM to Reveal Mid-Engine C8 Corvette in July

GM President Mark Reuss releases barely camo’d pic.

by on Apr.12, 2019

The mid-engine Chevrolet Corvette is finally out in the open and set for a formal July reveal.

To misappropriate a quote by Humphrey Bogart from “The Maltese Falcon,” “It’s the stuff dreams are made of.”

For decades, General Motors has sniffed off rumors that it was developing the sort of mid-engine Chevrolet Corvette that proponents said was needed to turn the classic American sports car into a true world-beater. In recent years, rumors have been rampant, along with sightings of prototypes caught with less and less camouflage. But, time and again, the automaker has refused to comment or commit.

Breaking Product News!

Until now, that is. Late Thursday, GM President Mark Reuss put his official stamp on the clearest image yet of the C8. Specifics are scarce, but for the two most important details. His tweet declared it “The Next Generation Corvette,” and announced that the C8 will make its official debut on July 18, 2019.

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Jeep Plans One Day Sale of Gladiator Launch Edition – and Will Give One Buyer a Year’s Pay to Play

“Go anywhere and live out your dreams,” says brand’s marketing chief.

by on Apr.01, 2019

Jeep hopes to sell 4,190 Gladiator Launch Editions.

With its first pickup in 27 years getting ready to roll into showrooms, Jeep said it will offer a special Launch Edition of the new Gladiator, but only for 24 hours, starting at 12:01 AM on April 4th – what is also known as “4x4 Day.”

The Launch Edition will be a fully loaded version of the off-road Jeep Gladiator Rubicon model and it will carry a steep price tag of $60,815. But to ease the bite – at least for one lucky customer – Jeep will give them “a year’s salary to go anywhere and live out their dreams,” said Scott Tallon, the brand’s marketing manager.

Keep on Trucking!

All told, Jeep will offer a maximum 4,190 of the Gladiator Launch Edition models – a reference to the 419 area code for Toledo, Ohio, where all of the pickups will be assembled.

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General Motors Sells South Korean Plant to EV Maker

Consortium not building Teslas.

by on Mar.29, 2019

GM sold the Gunsan plant it closed last year to Myongshin, an auto supplier that is part of a larger consortium that will build EVs there.

General Motors sold a recently closed plant in Gunsan, South Korea, to Myongshin, a South Korean supplier, for $99.5 million. A supplier to Tesla, the company said it plans to build EVs at the site, Reuters reported.

Myongshin is part of a consortium that plans to spend more than $170 million on the plant, which will build electric vehicles, according to a statement from the provincial government. The government added the plans call for the factory to churn out 50,000 electric vehicles annually by 2021 and 150,000 by 2025.

The Last Word!

“We aim to close this deal as soon as possible to ensure that there will be ongoing economic activity,” GM Korea said in a statement. (more…)