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GM throttles back Chevy Malibu, Buick LaCrosse production over swollen inventories

As inventory of the Chevrolet Malibu and Buick LaCrosse continues to pile up, General Motors will be idling its Fairfax Assembly Plant for two weeks, according to Automotive News. This move comes about a month after the plant was shut down for three weeks in late December and early January for the same reason. As of January 31, the GM had a 94-day supply of Malibu stock while the LaCrosse was a little worse with a 117-day supply.
Just last week, GM announced that it would be investing $600 million in upgrading this plant, but it's unclear what future plans the company has in store for Fairfax considering slow sales of both the plant's models. We do expect a refreshed and more luxurious LaCrosse shortly and an early design update for the Malibu to be announced at some point this year, although we have had no official word as to when either will happen.

2022 Buick Encore starts at $25,795

The Buick Encore entered the market here for the 2013 model year, its combination of solid, practical, and premium-ish content working well enough to increase sales by about 10% every year until 2019. The shine on that first-year model was such that it was recently voted one of the best used-car buys under $10,000. Still in its first generation, the Encore soldiers into the 2022 model year with a few small changes. The biggest update for the 2022 Encore is a newer 1.4-liter four-cylinder engine with more power. The previous unit produced 138 horsepower and 148 pound-feet of torque; the new 1.4 will unleash 155 hp and 177 lb-ft. That engine will only be available on the Preferred trim — which is the only one left. In 2018, the Encore came in six flavors. Whittling reduced that to a base model and a Preferred model for 2021, and for next year the base departs. Also (kind of) under the hood, an electric heater and defroster replace the traditional heater core system, for faster toasties in cold climes.  The only change outside is the addition of an exterior temperature sensor. Inside, the eight-inch infotainment touchscreen shrinks to become a seven-inch touchscreen. The passenger's seatback will no longer fold flat, so Buick took the opportunity to add a seatback map pocket to the shotgun position. Buick will charge $25,795 for the 2022 Encore, that figure including the $1,195 destination charge. It's the same price as the 2021 Encore Preferred.  The continued paring of the lineup suggests GM is ready to wind the model down now that the tiny-bit-larger and more profitable Encore GX is killing the Encore in the sales race. Through the end of September, the Encore is down on its 2020 sales volume in the U.S. by about half, whereas the Encore GX has more than doubled its 2020 sales so far this year. Automotive News reported that the Encore will quit the U.S. market in 2023 without a replacement as the automaker digs into its electric efforts. GM Authority believes there's a chance the new-generation Encore sold in China could come here. 

GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC