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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.

2016 Chevy Camaro Convertible gets cleaner looks, improved refinement [UPDATE]

UPDATE: We have live photos from the reveal. Scroll to the bottom of the story and check them out in the Related Gallery. Back in May, Chevrolet introduced a redesigned Camaro. Now, and not at all surprisingly, the Bowtie brand is showing off the latest Camaro convertible, based on the coupe that debuted on Belle Isle in Detroit. From the beltline down, this is the same car that was so well-received last month. But above the waist, there's an all-new, fully automatic canvas roof that can be raised and lowered at speeds up to 30 miles per hour. On top of that, owners will be able to drop the roof remotely by simply pressing a button on the key. Chevy does not, however, say if this new convertible roof is lighter than last year's top. The biggest change for the Camaro convertible, though, is something we've long yearned for – a proper hard tonneau cover that deploys over the folded roof. The current muscle car's roof fabric has the unpleasant tendency to flap in the breeze. The new droptop shouldn't have that problem, and will likely boast an even cleaner top-down profile to boot. Like the hardtop, though, the Camaro convertible does benefit from the same lightweight structure, that helps trim "at least" 200 pounds of body fat. It should also make use of the same powertrain lineup, with a turbocharged four-cylinder, a 3.6-liter V6, and a 6.2-liter V8 with six-speed manuals or eight-speed automatic transmissions spanning the lineup. "From the beginning, the Camaro's architecture was developed to incorporate a convertible with uncompromised driving dynamics," Camaro chief engineer Al Oppenheiser said in the attached release. "Customers will appreciate what they don't feel: quivers, cowl shake or an under-damped chassis typically found in a four-seat convertible." Increased refinement, a cleaner look, better driving dynamics and a more usable convertible roof? We're looking forward to you 2016 Camaro convertible. Chevy claims the new car arrives in "early 2016," which means we should plan on seeing this droptop at the typically cold and snowy Detroit Auto Show. Until then, check out the full press release from Chevrolet. Related Video: Chevrolet Lifts Lid on 2016 Camaro Convertible Segment's most advanced top is fully automatic, with refined appearance DETROIT – Let the sun shine in. Chevrolet will offer a convertible model of the all-new 2016 Camaro, featuring the segment's most-advanced top.

NACTOY announces top nine finalists for Car, Truck and Utility of the Year

Finalists for the 2024 North American Car, Truck and Utility Vehicle of the Year (NACTOY) Awards were announced at this year’s L.A. Auto Show. This whittles the field down to nine vehicles in total, with the winners scheduled to be announced on January 4, 2024. The finalists in their respective categories: Car category: Honda Accord, Hyundai Ioniq 6, Toyota Prius Truck category: Chevrolet Colorado, Chevrolet Silverado EV, Ford Super Duty Utility category: Genesis Electrified GV70, Kia EV9, Volvo EX30 These nine cars were chosen from a list of 25, which was previously narrowed down from a list of 52 eligible vehicles. Notable misses include the Chevrolet Corvette E-Ray, Toyota GR Corolla, GMC Canyon, Ford Ranger, Chevrolet Blazer EV, Chevrolet Equinox EV, Mazda CX-90 and Toyota Grand Highlander, among others. Jurors will now evaluate the final nine through the end of the year to determine the four winners. Autoblog Editor-in-Chief Greg Migliore is among the jurors. Green LA Auto Show Chevrolet Ford Genesis GM Honda Hyundai Kia Toyota Volvo Truck Crossover Hatchback SUV Electric Hybrid Luxury Off-Road Vehicles Performance Sedan