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Will attaching the electrodes re-animate Cadillac?

This announcement last week from General Motors —"Cadillac will be GM's lead electric vehicle brand"— followed quickly by the surprise reveal Sunday night of a Cadillac EV crossover, leads one to wonder whether this is a case of GM pulling out the defibrillator and hoping a full-on jolt of electricity will revive Cadillac from its ongoing diminution in the market. In 2018, Cadillac U.S. sales were 154,702 vehicles, which was down from the 156,440 it had sold in 2017. And the 2017 sales were down significantly from the 170,006 vehicles delivered by Cadillac in 2016. And that is down from the 175,267 sales of 2015. Sure, part of Cadillac's problem — one shared by some other OEMs — is that its sedans aren't selling. But if we put those to the side, realize that in 2018 sales of the venerable Escalade were down by 2.2 percent. Admittedly, that rig is a little old in the grille, and it's suddenly gotten strong competition from the Lincoln Navigator, so a sales decline isn't too surprising. But the XT5, the compact lux vehicle that was launched in 2016 as a model-year 2017 product, had an 11.3 percent decline in a segment that is doing nothing but growing. This is not promising. Although the argument at GM HQ might be that Cadillac can reinvent itself as a Tesla fighter, one of the things that isn't often noted about Tesla vis-a-vis other OEMs is that while sedan sales are generally down, Tesla, which had an estimated 2018 sales volume of 197,680 (according to Cleantechnica.com), made its numbers primarily with the Model 3 and Model S, both sedans, as it has just the Model X crossover. So it isn't just about vehicle architecture. It is going to take more than an electric SUV to change Cadillac's performance. But here's where circumstances can fall in Cadillac's favor. Scale can be highly beneficial to Cadillac versus Tesla. The Chinese market, even though it is weakening of late, will be largely predicated on "New Energy Vehicles," which means electrified and fully electric. And while Tesla only just now broke ground on a factory in China, LMC Automotive reports that as of December 2018, SAIC GM is already well-established there and is the third-largest vehicle manufacturer in China (behind SAIC Volkswagen and FAW Volkswagen). Cadillac is going to be able to take advantage of GM's global efforts in developing EVs, so soon the Cadillac showroom could be filled with an array of luxury EVs that may make even Tesla loyalists take another look.

GM CEO to meet with U.S. lawmakers over job cuts

WASHINGTON — General Motors Co Chief Executive Mary Barra plans to visit Capitol Hill next week to discuss the company's plans to halt production at five plants in North America next year and cut up to 15,000 jobs, two congressional aides said on Friday. GM has come under harsh criticism from lawmakers from both major political parties, and from President Donald Trump, since Monday when it announced the biggest restructuring for the U.S. No. 1 carmaker since its bankruptcy a decade ago. Barra is expected to meet with lawmakers from Michigan and Ohio, where GM plans to shutter three plants, as well as senior leaders in Congress. GM did not immediately comment. Barra has been calling lawmakers this week to explain the decision to end production. Trump has threatened to revoke subsidies for GM. The Detroit automaker plans to halt production next year at three assembly plants: the Lordstown small-car factory near Youngstown, Ohio; the Detroit-Hamtramck complex in Detroit; and the Oshawa, Ontario, assembly complex near Toronto. It will also stop building several models now assembled at those plants, including the Chevrolet Cruze, the Chevrolet Volt hybrid, the Cadillac CT6 and the Buick LaCrosse. Additionally, GM plans to shutter the Warren transmission plant outside Detroit and a plant that makes electric motors and drivetrains outside Baltimore, Maryland. The Cruze compact car will be discontinued in the U.S. market in 2019, although GM may continue building it in Mexico for other markets, Barra said. Reporting by David Shepardson. Related Video:

Trucks and tidbits from GM's earnings report

General Motors announced this morning that 2018 was a good year for it financially, thanks in large part to the company's performance in North America, which was predicated, according to the company, on "strong pricing, surging crossover sales, successful execution of the company's full-size truck launch, growth of GM Financial earnings, and disciplined cost control." GM reported full-year income of $8.1 billion and EBIT-adjusted income of $11.8 billion. Crossover sales in 2018 were 1,034,808, an increase of 7 percent compared to 2017 deliveries. Throw in the body-on-frame SUVs and the ute number is a total 1,295,700. But let's face it: It is the trucks that really matter. The Chevy Silverado and Colorado, the GMC Sierra and Canyon. Altogether, GM sold 973,463 pickups in the U.S. in 2018. Although Ford gets bragging rights for F-Series sales, GM gets to point out that it has a greater aggregate number. An important factor regarding the trucks and the reported income is that during the last quarter, more than 90 percent of the new 2019 trucks were crew cabs (which have a higher sticker), and at GMC more than 70 percent were Denali and AT4 models (which have even higher stickers). According to reporting by Bloomberg, GM's pickup trucks combine for $65 billion in annual revenue. Clearly when the 2018 sales of the Silverado — 585,581— dwarf the combined sales of both Buick (206,863) and Cadillac combined (154,702), pickups are what matter to the overall health of the company in a way that it is difficult to otherwise achieve. The "disciplined cost control" is something that is very much in the public eye right now, as the company is taking out thousands of its workers, and there is still the "unallocated" plant situation and other plants that will remain under capacity. The numbers in GM's earnings report probably made Unifor members' heads explode in consternation, coming fresh off their Super Bowl ad: " GM, you may have forgotten our generosity, but we'll never forget your greed." But there are a couple of curiosities in the full GM earnings release. One is that so far as its autonomous efforts go, it mentions only that (1) in the first quarter of 2018 Cruise introduced a production-ready autonomous vehicle, and (2) Cruise attracted $5 billion in external capital from SoftBank and Honda. Not a whole lot of love for autonomy. Good thing they have the trucks to fund the program, to say nothing of the external capital.