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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.

Cadillac Escalade reportedly getting 200-hp bump from supercharger

Cadillac is preparing to supercharge the Escalade, according to a recent report. The body-on-frame General Motors SUVs that it shares its basic underpinnings with are allegedly in line to receive a big increase in power, too. Released for the 2021 model year, the fifth-generation Escalade eschewed downsizing and launched with a 6.2-liter V8 as its standard engine. It develops 420 horsepower and 460 pound-feet of torque when it's naturally aspirated, and Motor Trend learned from an anonymous source that the optional supercharger will increase the first figure to anywhere between 600 and 625. The eight's torque output will undoubtedly go up, too. The supercharged Escalade won't outgun the sold-out Dodge Durango SRT Hellcat, which gets 710 horses, but it will pack a serious punch. It doesn't sound like the V8 will require significant modifications to handle the extra power because the supercharger kit will likely be installed by dealers, not on the assembly line. This strongly suggests that it's more of a bolt-on job than one that requires taking the engine out and apart to install stronger connecting rods and forged pistons, for example. ECU tweaks will be part of the package, too, and the fuel delivery system may require some upgrades. Interestingly, Motor Trend learned from Texas-based Hennessey that the SUV's ECU is locked to tuners, which adds credibility to the report. Motorists who want more power will need to go through official sales channels, then. Bigger brakes and a firmer suspension won't be part of the package — at least not yet. The same source outlined a true high-performance evolution of the body-on-frame behemoth that will be quicker and tighter to drive. Oddly, it's not being developed by the engineers in charge of Cadillac's V-branded models, according to the report. If the report is accurate, we'll learn more about the supercharged Cadillac Escalade in the coming months, and it might go on sale in time for the 2022 model year. Expect the supercharger to come with a four-digit price tag. Chevrolet's Tahoe/Suburban and GMC's Yukon/Yukon XL will reportedly be available with a supercharger, too.

Hotter Cadillac CT4-V prototype spied testing at GM's Proving Grounds

Cadillac already teased us once with the hotter CT4-V and CT5-V at the Belle Isle Grand Prix, but these photos are still the best look yet at what's next for the Cadillac V-Series. The car we're looking at in heavy camouflage here is a high-performance CT4, but we don't really have a name to call it at this point. Cadillac hasn't said, so it could be anything. We'll just refer to it as the faster V, as it's certainly looking a bit more racy than the warmed-over CT4-V already revealed. While the styling isn't drastically different from the CT4-V already out there, the front intake and openings look deeper and more aggressive. The middle, raised section of the hood is a little taller and the whole front-end design looks a lot like the one teased in Belle Isle. This vehicle even appears to have the same mirror design as the faster V. The side sills, quad exhaust tips and wide rear tires lend this prototype an aggressive look, but we did note that it doesn't have the big ducktail spoiler we saw teased previously. Maybe Cadillac is trying to keep a low profile while testing. A keen eye will notice a wild apparatus attached to the front, which would serve as a great jousting pole if you were into that kind of thing. We don't know exactly when Cadillac plans to introduce the faster V machines, but we wouldn't doubt if it happened before the year was out. The ATS-V and CTS-V didn't look wholly different than the pedestrian versions of those cars, and this prototype indicates Caddy may follow a similar pattern this time around. All will be explained from GM soon, but for now, we wait.