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GM laying off more than 4,000 workers Monday morning

According to reports from Automotive News, The Detroit News, and CNN, General Motors plans to begin laying off more than 4,000 salaried workers starting Monday morning. In a statement to AN, a spokesperson for the automaker said, "We are not confirming timing. Our employees are our priority. We will communicate with them first." We've been expecting layoffs at General Motors since November, 2018. At the time, the Detroit-based automaker announced it would seek to shed 8,100 salaried employees, shut down five assembly plants in North America, and kill off several slow-selling models. One month earlier, GM offered buyout packages to 18,000 workers and said it would seek to cut its global workforce by 25 percent. A spokesperson said at the time the moves were "proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance." The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. We expect to hear plenty more from both sides over the next several days.

2021 Cadillac CT5-V Blackwing spied up close, showing off bronze wheels

Here is yet another closer look at the upcoming Cadillac CT5-V Blackwing sedan. Some pertinent details have been flying around this one for a while now. A photo of the interior showing a manual transmission is the latest leak, and it’s also one of the most exciting. Reports have also shone light on the engine: ItÂ’s supposed to be getting an updated version of GMÂ’s 6.2-liter supercharged V8. There will be no shortage of horsepower and torque. These latest spy shots reveal a couple of other new developments. For one, we get a really great look at the wheel and tire package on the car. Those dark bronze wheels are new, and they sure do look like production-style wheels to us. If anything, they remind us of the Brass Monkey wheel color found on Challengers and Chargers. Wide Michelin Pilot Sport 4S tires wrap those wheels. It gets 305-section-width tires in back and 275-section-width rubber in front. The wide, staggered setup is no surprise considering that this car will very likely put out more than 640 horsepower. ThereÂ’s a great deal of camouflage missing from the car as a whole, too. The hood is out in the open, and the same goes for the upper portions of the doors. ThatÂ’s because those parts of the car are virtually identical to the regular CT5-V. Sorry, no massive hood scoop on this sedan. The front grilleÂ’s lower opening does look significantly taller on this car, though. And where the standard CT5 has covered up fake vents, this car appears to have real, open venting. All the lighting is the same, but the maw of the CT5-V Blackwing is definitely much more aggressive than the standard CT5-V. Cadillac hasnÂ’t provided us with a date on when the new CT5-V Blackwing will be revealed, but has assured us that itÂ’s coming soon. We expect its little sibling, the CT4-V Blackwing, will debut right alongside this one. Related video:

Luxury car brands scrambling to avoid a blue Christmas

DETROIT — When financial markets surge to new records, sales of luxury cars usually rise, too. Instead, October U.S. auto sales reports on Wednesday showed that a collapse in sales of luxury sedans is accelerating. Consumers have gradually shifted over to luxury sport utility vehicles from sedans in the past decade, but the trend — which has occurred in both the non-luxury and luxury sedan segments of the auto market — was particularly pronounced in October. Sales of Daimler AG's Mercedes-Benz S-Class, long a global benchmark for large, premium sedans, plunged 49 percent in October, and are down 24.8 percent for the year to date. General Motors' Cadillac brand said it sold just 779 of its CTS sedans in October. Demand for that car, designed to compete with German luxury sedans, is down nearly 33 percent for the year. "There's still a significant portion of the market that wants a car, but I'm sure there were people who preferred a horse to a car at one point." Cadillac's best-selling model this year is the XT5 compact SUV, which has more than doubled sales from a year ago. The shift within the luxury vehicle market away from sedans toward SUVs of all sizes is forcing some of the most prestigious brands to scramble to add SUV models to their lineups or boost SUV production to meet demand. "In the short term, there will be pressure to add (consumer) incentives, cut production or both," said Cox Automotive analyst Michelle Krebs. "And we just don't see an end in sight to this trend." The Dow Jones Industrial Average has been trading at all-time highs, usually a good sign for luxury sedans, but as major automakers reported new U.S. vehicle sales for October on Wednesday, sales for passenger cars continued their slide while luxury SUV and crossover sales rose again. According to Kelley Blue Book data, in 2007 luxury sedans made up 7.6 percent of U.S. new vehicle sales, while luxury SUVs made up 4.2 percent. Through September this year, luxury SUVs made up just over 7 percent of the market, compared with 4.9 percent for luxury sedans. In the short term, luxury brands could use holiday season sales promotions to clear slow-selling sedans off dealer lots, analysts said. Toyota's Lexus brand said on Wednesday it will launch its "December to Remember" year-end sales promotion for the 18th straight year.