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Junkyard Gem: 1976 Cadillac Eldorado Convertible

Convertibles rode high well in 1960s America, with Detroit selling more than 500,000 ragtops in 1965, but sales collapsed by the early 1970s and tightening federal crash-safety regulations made it seem less worthwhile to even bother producing new ones. Chrysler halted convertible production after 1971, with Ford following suit by 1973. By the 1976 model year, the Cadillac Eldorado was the last new American car you could buy with a convertible top from the factory, and it appeared that none would ever be built again. I've found one of those "last convertible" Eldorados in rough-but-identifiable condition in a Denver junkyard. As it turned out, the convertible never really died in America. Car shoppers could still buy new European-made convertibles after 1976, coachbuilders modified new Detroit cars with factory-grade drop-tops, and then Chrysler began selling K-Car convertibles starting with the 1982 model year. Because the '76 Eldorado appeared to be the absolute end of the convertible line, however, buyers thought they were investing in a sure-fire collector car that would be worth vast sums in the not-very-distant future (this belief led to lawsuits against GM later on, when the Cadillac Division resumed production of the Eldorado convertible for 1984). While a one-of-200-made Bicentennial Edition Eldorado with red-white-and-blue trim really is worth plenty these days, an ordinary 1976 Eldorado in beat-up condition doesn't seem worth restoring. This car appears to have sat outside in Colorado with the top down for decades, filling with snow each winter and enduring high-elevation solar irradiation each summer. A 1960s GTO or Camaro might be worth fixing up after falling into this state of disrepair, but not one of 14,000 "last convertible" Eldorados made in 1976. GM's Unified Powerplant Package front-wheel-drive system, which used battleship-strength chains to transmit power to the drive wheels, proved to be extremely reliable on the street, joining the small-block Chevrolet engine and Hydra-Matic transmission in the pantheon of The General's Greatest Engineering Hits. Even gigantic motorhomes used this system. In 1976, the Eldorado got the last of the 500-cubic-inch (8.2 liter, or litre as GM's marketers spelled it) V8s, rated at a disappointing 190 horsepower and an impressive 360 lb-ft of torque.

2020 Cadillac CT4 spied completely undisguised for the first time

A few weeks ago, Cadillac gave us our first look at its new small luxury sports sedan in the form of the CT4-V. This was a bit unusual considering the company hadn't shown us the regular one yet, and the reveal is still off in the not-too-distant future. But we were lucky enough to catch a normal 2020 Cadillac CT4 parked at a local gas station completely and totally undisguised. Based on what we know about other recent Cadillacs and their trim and design, this CT4 is probably a Luxury or Premium Luxury trim, since it has plenty of bright chrome and red taillights instead of dark gray ones. The differences from the CT4-V are subtle. The mesh grilles of the V are swapped for a main grille studded with small Cadillac badge shapes and the lower grille has simple slats. The little air intakes by the lower sections of the running lights are smaller than the ones on the V. This car also lacks the V's side skirts and wider canards on the edges of the front bumper. There doesn't appear to be a rear spoiler either. While we've had a good look at the exterior of the CT4, we'll have to wait until the car's full reveal later this year to know what's under the skin. We do know that it will continue to use the Alpha platform shared with the CT5, Camaro and the old ATS and CTS. We suspect the base engine will be the same 2.0-liter turbocharged inline-4 from the CT5, which makes 237 horsepower and 258 pound-feet of torque. Since the CT4-V uses a turbo 4-cylinder that makes 320 horsepower and 369 horsepower, there might not be a V6 option for the regular CT4. The CT5's twin-turbo 3.0-liter V6 makes more power and torque, so that's out, and the old ATS's naturally aspirated V6 made 335 horsepower and 285 pound-feet of torque, which would be uncomfortably close the CT4-V's specs. But we could see a V6 of some sort in an even more potent V iteration of the CT4 later.

GM to cut production at 5 plants in North America, kill several models

DETROIT/WASHINGTON — General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a stagnant market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. The announcement is the biggest restructuring in North America for the U.S. No. 1 carmaker since its bankruptcy a decade ago. GM said it will take pre-tax charges of $3 billion to $3.8 billion to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6 billion by the end of 2020. GM plans to halt production next year at three assembly plants: Lordstown, Ohio, Hamtramck, Michigan, and Oshawa, Ontario. The company also plans to stop building several models now assembled at those plants, including the Chevrolet Cruze, the Cadillac CT6 and the Buick LaCrosse, the sources said. Sources said the Chevrolet Volt, Impala and Cadillac XTS would also be discontinued. Signs of the demise of six passenger-car models have been swirling since July. Plants in Baltimore, Maryland, and Warren, Michigan, that assemble powertrain components have no products assigned to them after 2019 and thus are at risk of closure, the company said. It will also close two factories outside North America, but did not identify those plants. The AP reported that 14,700 jobs would be affected. Some 8,100 of those would be white-collar jobs reduced through buyouts or layoffs. The No. 1 U.S. automaker signaled the latest belt-tightening in late October when it offered buyouts to 50,000 salaried employees in North America. The company also said it will cut executive ranks by 25 per cent to "streamline decision making." Some 6,000 factory workers could lose their jobs or be transferred to other plants. Its shares were last up 6.2 percent at $38.16. Tariff 'headwinds' and cost-cutting GM Chief Executive Officer Mary Barra told reporters on Monday the company can reduce annual capital spending by $1.5 billion and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. Some 75 percent of its global sales will come from just five vehicle architectures by early in the 2020s. It plans to reduce annual capital spending to $7 billion by 2020 from an average of $8.5 billion a year during the 2017-2019 period.