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GM extends vehicle production cuts into mid-March due to global chip shortage

DETROIT — General Motors said on Tuesday it was extending production cuts at three North American plants until at least mid-March due to the global semiconductor chip shortage, while vehicles at two other factories would only be partially built. GM, whose shares dipped 1% after the announcement, did not disclose the impact volumes or say which supplier and vehicle parts were affected by the chip shortage. But it said it would focus on keeping production running at plants building its highest-profit vehicles, full-size pickup trucks and SUVs. GM said it intended to make up as much lost production as possible once the shortage chip eased. "Semiconductor supply remains an issue that is facing the entire industry. GM's plan is to leverage every available semiconductor to build and ship our most popular and in-demand products," GM spokesman David Barnas said. GM said it was extending downtime at its U.S. plant in Fairfax, Kansas, its Canadian factory in Ingersoll, Ontario, and its Mexican facility in San Luis Petosi until mid-March when it would reassess the situation, he said. In addition, GM would build but leave incomplete for final assembly vehicles at Wentzville, Missouri, and its Mexican plant at Ramos Arizpe. GM vehicles affected by the idled plants include the Chevrolet Malibu sedan, Cadillac XT4 SUV, Chevy Equinox, and GMC Terrain SUVs. Vehicles to be left incomplete for now included the Chevy Colorado, GMC Canyon pickups and Chevy Blazer SUV. This week, GM had said it was idling the three factories where it has now extended downtime and said it would halve production at a plant in South Korea. The chip shortage has affected many automakers, including Toyota, Volkswagen, Stellantis, Ford, Renault, Subaru, Nissan, Honda and Mazda. Asian chipmakers are rushing to boost production but say the supply gap will take many months to plug. German chipmaker Infineon said the shortage would get worse in the near term. The chip shortage is expected to cut global output in the first quarter by more than 670,000 vehicles and last into the third quarter, IHS Markit said. AutoForecast Solutions estimated total lost production this year could reach 1 million vehicles. Honda and Nissan said on Tuesday they would sell 250,000 fewer cars in total this financial year due.

Nine cars we wish were convertibles

The snow has melted, the sun is shining, and the days are getting longer. At the Autoblog Detroit office we feel like our winter hibernation is finally over. And with warmer temperatures come visions of opening up a convertible roof and cruising. You know, just turn up the bass and let the Alpine blast. There are plenty of droptops on sale in the US, and more on the way (like the 2016 Mazda MX-5 Miata). That said, we always want more. More! More! More! In that spirit, we cooked up a list of nine cars aren't currently sold as convertible, but ought to be. Check out our picks, below. Summer's just around the corner. Subaru BRZ / Scion FR-S In some parallel universe, this car actually happened. Toyota showed us a FT 86 Convertible concept at the Geneva Motor Show in 2013, and we immediately started licking our chops over the thought of a rear-wheel-drive convertible based on the Subaru BRZ and Scion FR-S twins. These days, the MX-5 Miata is our only option for affordable roadster fun. A competitor to the Mazda seems like a no-brainer to us, especially since we have naught but good to say about the BRZ/FR-S as-is. Unfortunately in our present timeline, this car is as likely for production as a BRZ STI. Which is to say, not very. Dang. Lexus RC F Unlike the FR-S, a convertible from Toyota's luxury division might actually see the light of day. The current IS convertible is about to be phased out, and the Lexus LF-C2 concept from the 2014 Los Angeles Auto Show is really a thinly veiled look at a possible RC convertible. A droptop RC would be plenty good, but let's reach for the starts. What we really want is to run topless in an RC F, complete with that powerful, loud, 5.0-liter V8 engine. Lexus says the RC F is a true competitor to the BMW M4. If that's true, it only makes sense for Lexus to mimic the Germans and offer its performance coupe in a folding hardtop form. Maybach Landaulet Maybach is bach back, recast as an upper crust trim level for Mercedes-Benz. The Mercedes-Maybach S600 is seriously awesome, and more luxurious than a trip to the spa. But why not go a step into the truly ridiculous levels of extravagence and bring back that open-top Landaulet? We think your local princess will love this idea, and with better S-Class bones underneath, Jeeves will have a pretty enjoyable ship to steer, too. Besides, with that slick new Mercedes design language, a Landaulet redux wouldn't be nearly as hideous as the old model, pictured here.

The UAW's 'record contract' hinges on pensions, battery plants

DETROIT - After nearly four weeks of disruptive strikes and hard bargaining, the United Auto Workers and the Detroit Three automakers have edged closer to a deal that could offer record-setting wage gains for nearly 150,000 U.S. workers. General Motors, Ford Motor and Chrysler parent Stellantis have all agreed to raise base wages by between 20% and 23% over a four-year deal, according to union and company statements. Ford and Stellantis have agreed to reinstate cost-of-living adjustments, or COLA. The companies have offered to boost pay for temporary workers and give them a faster path to full-time, full-wage status. All three have proposed slashing the time it takes a new hire to get to the top UAW pay rate. The progress in contract talks follows the first-ever simultaneous strike by the UAW against Detroit's Big Three automakers. The union began the strike on Sept. 15 in hopes of forcing a better deal from each major automaker. But coming close to a deal is not the same thing as reaching a deal. Big obstacles remain on at least two major UAW demands: restoring the retirement security provided by pre-2007 defined benefit pension plans, and covering present and future joint- venture electric vehicle battery plants under the union's master contracts with the automakers. On retirement, none of the automakers has agreed to restore pre-2007 defined-benefit pension plans for workers hired after 2007. Doing so could force the automakers to again burden their balance sheets with multibillion-dollar liabilities. GM and the former Chrysler unloaded most of those liabilities in their 2009 bankruptcies. The union and automakers have explored an approach to providing more income security by offering annuities as an investment option in their company-sponsored 401(k) savings plans, people familiar with the discussions said. Stellantis referred to an annuity option as part of a more generous 401(k) proposal on Sept. 22. Annuities or similar instruments could give UAW retirees assurance of fixed, predictable payouts less dependent on stock market ups and downs, experts said. Recent changes in federal law have removed obstacles to including annuities as a feature of corporate 401(k) plans, said Olivia Mitchell, a professor at the University of Pennsylvania Wharton School and an expert on pensions and retirement. "Retirees want a way to be assured they won't run out of money," Mitchell said.