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GM again delays plant that will build the Silverado EV

  General Motors Co. will again push back the planned opening of an electric pickup truck plant in suburban Detroit and has delayed a Buick plug-in amid uncertain growth in battery-powered car sales. Mary Barra, the company’s chief executive officer, told analysts Tuesday on an earnings conference call the automaker is postponing until mid-2026 the opening of its Orion Assembly factory, which will make the Chevrolet Silverado EV. This is the second delay for the plant, which was originally slated to start production in late 2024. Shares of the automaker fell 4.1% to $47.52 as of 9:39 a.m. in New York. The stock is up about 32% so far this year. The delay is a main reason why GM wonÂ’t be able to meet its previous goal of having production in place to make 1 million EVs by the end of next year. The company said they will add production as buyers show more interest in electric vehicles. “We continue to make sure we continue to scale the business to customers and where they are at,” GM Chief Financial Officer Paul Jacobson said on a call with reporters. GM reported on Tuesday a 60% jump in second quarter profit compared with a year ago, topping Wall StreetÂ’s expectations on strong demand for its traditional gas-powered trucks in the US market.

2016 Chevy Volt auctioned off to help the robots

One of the cool things about the 2016 Chevrolet Volt extended-range plug-in being auctioned off to raise money for kids' science and robotics program is that even the sedan's color sounds very scientific. Indeed, it's fitting that a "Kinetic Blue" Volt will be used to advance the scientific education of the country's students, according to Hybrid Cars. That is, if it fetches enough cash. Chevrolet parent General Motors was kind enough to donate a 2016 Volt to the so-called FIRST K-12 robotics program (FIRST stands for For Inspiration and Recognition of Science and Technology). The program was founded in 1989. Last year, General Motors engineers worked with about 10,000 FIRST students in the US, but it looks like GM is now going the cold-hard-cash route to make its mark on future scientists. Bidding for the vehicle will take place until the morning of November 19, and, hopefully, it will generate enough interest to drive the bidding price up beyond its MSRP. As of Tuesday morning, nine bids had been taken, with the top one at $27,750. That's all fine and good except the car is pretty loaded with bells and whistles, and it's 53-mile electric-only range is a considerable jump from the first-generation Volt, so the car's "estimated value" is $40,245 (not factoring in the $7,500 federal tax incentive). That's a pretty good jump over the 2016 Volt's base price of $33,995, which marked a $175 price cut from the 2015 model. So pony up, folks. It's for the kids. Related Video:

GM profits threatened by glut of pickups

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.
The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.
That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.