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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.

Economy-car buyers increasingly get the best deal on technology

One of the great things about technology is – with the exception of Apple products – consumers get more for their money every year. For example, the first 1GB USB drive I bought in 2005 cost me $30. Today you can get 10 for that price, delivered to your door thanks to Amazon. The same goes for car tech. Features such as navigation and Bluetooth started out on high-end vehicles before trickling down to entry-level cars. Same with driver assist features ranging from rearview cameras to forward collision warning with automatic emergency braking — so now it's not only rich people who are protected in car crashes. I've found that this democratization of tech has reached a point where amenities on low-cost cars can be as good — and sometimes even better — than those on vehicles costing tens of thousands of dollars more. While attending a media event for the launch of the all-new 2019 Toyota Corolla Hatchback, I was impressed by the car's cool styling and go-kart performance. Equally noteworthy is the amount of standard tech on the low-cost hot hatch. (Pricing will be announced later this month, but expect it to come in a bit higher that the current Corolla iM's roughly $19,000 base.) Even the base SE CVT trim of the 2019 Corolla Hatchback comes with an 8-inch touchscreen and Toyota's Entune 3.0 infotainment system. Among other features, Entune 3.0 provides Wi-Fi capability, Amazon Alexa connectivity, the Entune App Suite for integration of smartphone apps such as Pandora and Yelp and, for the first time in a Toyota, Apple CarPlay (but no Android Auto). The 2019 Corolla Hatchback is also the first North American vehicle to get the second-generation Toyota Safety Sense (TSS) suite of driver assists that's also standard on the base model. TSS 2.0 includes Toyota's Pre-Collision System (forward collision warning with automatic emergency braking) with new daytime and low-light pedestrian detection and daytime cyclist detection features, lane keeping and lane departure alert with steering assist, auto high beams, adaptive cruise control, and road sign detection. While the 2019 Corolla Hatchback sets a new benchmark in standard tech on a budget-mobile, competing cars aren't far behind. The 2018 Honda Fit LX, for example, includes forward collision warning with automatic emergency braking, lane departure warning and assist and adaptive cruise, while the automaker's Lane Departure Mitigation and Lane Watch camera system is added the two top trims.

2016 Cadillac CTS-V arrives with 640 hp, 200-mph top speed

Ask the company's executive team, and they'll tell you "this is the maximum Cadillac V-Series." It's the 2016 CTS-V sedan, and it packs the very best of what's possible at Cadillac. And the company says it doesn't think "anyone thought it was possible that we could push [the CTS-V] this far." The big news is what's underhood: General Motors' supercharged, 6.2-liter LT4 V8, tuned to 640 horsepower and 630 pound-feet of torque. That's 10 hp and 20 lb-ft less than the monstrous Corvette Z06, and the result is the most powerful car Cadillac has ever produced. With rear-wheel drive, launch control and the eight-speed automatic transmission (sorry, folks – no more manual transmission here), Cadillac says the 2016 CTS-V will sprint to 60 miles per hour in just 3.7 seconds, on its way to a top speed of 200 miles per hour. Naturally, Cadillac's engineers say they have tuned the CTS-V to ensure it can put all that power to the ground with the most precision and poise possible. That starts with the excellent Magnetic Ride Control active damping system (with a claimed 40-percent increase in responsiveness)and a 25-percent increase in structural stiffness that should improve overall handling and steering. What's more, a high-performance Brembo brake package comes standard, as do 19-inch alloy wheels wrapped in seriously sticky Michelin Pilot Super Sport tires that will reportedly offer 1g in lateral acceleration. Cadillac also says that all changes to the bodywork are functional. That includes a carbon-fiber hood, front splitter, rear spoiler and diffuser that are super light and aid with aerodynamics and weight reduction – all of which will be available as an optional package for folks who like the exposed carbon look. Inside, it's more of what we're used to on lesser CTS models, but there's newly optional carbon fiber trim, microfiber suede upholstery trim, and some seriously awesome Recaro seats. Additionally, as we exclusively reported earlier, Cadillac will offer GM's Performance Data Recorder in the CTS-V. It records high-definition video with data overlays that's sharable via social media. Beyond that, Cadillac will offer the usual smattering of tech goodies, including Siri Eyes Free, OnStar with 4G LTE, CUE infotainment with navigation and Bose audio. The CTS-V will launch later next year, following the debut of the smaller ATS-V. In the meantime, the sedan will officially bow at the 2015 Detroit Auto Show in just a few weeks.