2014 Cadillac Xts Premium on 2040-cars

Auto blog

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.

2023 Cadillac Lyriq production model revealed with range, power, price

We got our first look at the Cadillac Lyriq's design last August, and now the company is revealing the official production version of the electric crossover. The good news is that it looks almost identical to the preproduction version no matter where you look, inside or outside the car. It has the same long hood, low roof, creased body work, illuminated grille and groovy taillights. The interior retains the 33-inch instrument and infotainment screen and wood and metal trim. Only detail changes to things like the camera in the grille and the reworked control knob in the center console distinguish it from the concept. So if it basically looks the same, what's new here? Well, we finally have specifics on all the stuff that powers the concept-car body. At launch, the Lyriq will only be offered with a single motor and rear-wheel drive. The motor makes 340 horsepower and 325 pound-feet of torque funneled through a single-speed transmission. Supplying the motor with juice is a 100-kWh battery, though Cadillac didn't specify if that's the usable capacity or gross capacity. Cadillac estimates that the battery will provide more than 300 miles of range on a single charge. The initial models will be equipped with on-board charging equipment that can handle 19.2-kW Level 2 charging and 190-kW DC fast charging. The former can add 52 miles of range in an hour, and the latter can add 76 miles of range in 10 minutes and 195 miles in half an hour. Cadillac has made no mention of an 800-volt extra-fast DC charging system like in the GMC Hummer EV. There's a chance a system like that could be offered later, just like the forthcoming all-wheel-drive Lyriq variant. The Lyriq rides on multi-link independent suspension at all four corners, using "passive-plus" shocks, so it won't be adaptive or use GM's fancy magnetic suspension, at least at launch. Braking is provided by large 17-inch rotors at the front and 18-inch units at the back, welcome additions for the 5,610-pound crossover. Cadillac also gave us some basics on what equipment will be offered with the first run of Lyriqs. Only two colors, a silver and a black, will be available to begin with, and another silver will come a tad later. We imagine more colors will be offered on later Lyriq models. The interior comes in gray or black. Twenty-inch wheels are standard with 22-inch examples available as an option.

GM Cadillac chief: New CT5 will replace 3 sedans; EVs coming

DETROIT - The head of General Motors' Cadillac luxury division said on Thursday the brand will shrink its lineup of sedans and expand its offerings of sport utility vehicles and hybrid and electric vehicles in response to market shifts. Expanding Cadillac's global sales is central to GM's overall profit strategy, and Cadillac has reported a 27 percent increase in worldwide sales through the first half of the year. However, in the United States, now the brand's second largest market behind China, Cadillac sales are down 1.6 percent and combined sales of the brand's four sedan models have plummeted 16.3 percent through the first half of the year. That has forced GM to order layoffs at two Michigan factories that build Cadillac cars, and raised questions about the long term future of the plants. "We have to rebalance our sedan portfolio," Johan de Nysschen told Reuters in interview, offering new details about the strategy. Cadillac will not directly replace the current XTS, CTS or ATS sedans when they end their life cycles in 2019, he said. Instead, Cadillac will use a single new car called the CT5 to appeal to consumers shopping for sedans priced between $35,000 and $45,000. New versions of the CT6 sedan will be offered to customers who want a larger car starting at $50,000. Sources had told Reuters last week that GM was considering ending production on six cars including the CT6 and XTS and models from Chevrolet and Buick. That report now appears only half-right as far as Cadillac is concerned. The new CT5 will be built at a factory near Lansing, Michigan, that currently builds the slow-selling Cadillac ATS and CTS models. A small luxury sedan to compete with the Audi A3 will be built in the same plant, de Nysschen said. Cadillac will offer more SUVs, starting with a compact model called XT4, followed by a larger SUV with three rows of seats due by 2019 to compete with vehicles such as Volvo's current XC90 model. Volvo, owned by China's Zhejiang Geely Holding Group, scored a public relations coup by announcing plans earlier this month to power all its vehicles with either hybrid or all-electric technology starting in 2019. The move challenges Tesla, which has eclipsed more established brands with tech savvy luxury buyers. Cadillac has plans "not dissimilar to what Volvo has announced," with more electrified vehicles launching in the second half of the next decade, de Nysschen said.