1957 Chevrolet Bel Air/150/210 Fuel Injection on 2040-cars

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GM laying off 500 workers to slow Chevy Sonic production

Due to slow sales of the Chevrolet Sonic and Buick Verano, General Motors is cutting a shift at the Orion Township plant that builds the pair. The move lays off about 500 workers, but most of them are expected to get offers to transfer to other factories, Automotive News reports. The move came just a day after GM announced adding 1,200 employees to the Detroit-Hamtramck plant. GM has been trying all year at the Orion Township factory to align production of the Sonic and Verano with their demand. The automaker first attempted idling the plant several times and eventually resorted to laying off about 100 workers. It also reduced the production rate there. With the huge rise in popularity of crossovers, demand for the plant's small cars is on the downturn. According to Automotive News, there's currently a 116-day supply of Sonics and 100 days of Veranos to sell. Delivers tell a similar tale because the Chevy is off 35.2 percent from January to September, and the Buick does little better with a 27.2 percent drop from the same period last year. While the situation at Orion Township might look rough now, big things are on the horizon. Soon, the new Chevy Bolt electric vehicle will be built there when it hits the market around 2017. Plus, the plant will also get a $245-million upgrade and 300 new jobs for another, unannounced vehicle.

New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values

Here's our 2016 Chevy Camaro mega-gallery, live from Belle Isle

Nearly 1,000 enthusiasts headed to Belle Isle in Detroit last weekend to witness the reveal of the 2016 Chevrolet Camaro. Couldn't make it? We've got the next-best thing. Here's a mega-gallery of everything that happened. We've got the reveal of the car in all three of the colors that were on display: red, blue, and gray. We take you under the hood and inside the cabin of this new muscle car. Plus, you can view the exterior from every angle. Then we returned the next day to test drive the Camaro. That was only for journalists, but these pictures are just like being there. And even if you made it to the Motor City this weekend, click through all of these shots to get a better sense of the sixth-generation Camaro. Related Video: