1993 Chevrolet Corvette 5.7l White 159000 Miles Good Condition on 2040-cars

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5 reasons why GM is cutting jobs, closing plants in a healthy economy

DETROIT — Even though unemployment is low, the economy is growing and U.S. auto sales are near historic highs, General Motors is cutting thousands of jobs in a major restructuring aimed at generating cash to spend on innovation. It's the new reality for automakers that are faced with the present cost of designing gas-powered cars and trucks that appeal to buyers now while at the same time preparing for a future world of electric and autonomous vehicles. GM announced Monday that it will cut as many as 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles. The reductions could amount to as much as 8 percent of GM's global workforce of 180,000 employees. The cuts mark GM's first major downsizing since shedding thousands of jobs in the Great Recession. The company also said it will stop operating two additional factories outside North America by the end of next year. The move to make GM get leaner before the next downturn likely will be followed by Ford Motor Co., which also has struggled to keep one foot in the present and another in an ambiguous future of new mobility. Ford has been slower to react, but says it will lay off an unspecified number of white-collar workers as it exits much of the car market in favor of trucks and SUVs, some of them powered by batteries. Here's a rundown of the reasons behind the cuts: Coding, not combustion CEO Mary Barra said as cars and trucks become more complex, GM will need more computer coders but fewer engineers who work on internal combustion engines. "The vehicle has become much more software-oriented" with millions of lines of code, she said. "We still need many technical resources in the company." Shedding sedans The restructuring also reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs. That figure was about 50 percent cars just five years ago. GM is shedding cars largely because it doesn't make money on them, Citi analyst Itay Michaeli wrote in a note to investors. "We estimate sedans operate at a significant loss, hence the need for classic restructuring," he wrote. The reduction includes about 8,000 white-collar employees, or 15 percent of GM's North American white-collar workforce. Some will take buyouts while others will be laid off.

GM recalls 83,572 SUVs for ignition switch issue

General Motors is recalling 83,572 SUVs from the 2011 and 2012 model years over a potential ignition lock actuator issue. In affected vehicles, the actuator isn't the right size, which could cause the ignition to get stuck in the "Start" position, and then either due to a jarring event or a "cool interior temperature" the ignition could switch back to the "Accessory" position. Doing so would cause a loss of power assistance and the airbags might not deploy. This is a different ignition issue than the one that's been ongoing for the past year. GM said it expects that less than 500 vehicles suffer from the problem, but that the pool could include vehicles from 2007 through to 2014 that have already been fixed, but with defective parts. The 2011-2012 SUVs included in the National Highway Traffic Safety Administration notice: Cadillac Escalade, Escalade ESV, Escalade EXT, Chevrolet Avalanche, Silverado HD, Silverado LD, Suburban, Tahoe, GMC Sierra LD, Sierra HD, Yukon, and Yukon XL vehicles. GM will notify owners and dealers will inspect the ignition lock housing to see if it needs a free replacement. RECALL Subject : Ignition Lock Actuator may Bind Report Receipt Date: DEC 30, 2014 NHTSA Campaign Number: 14V827000 Component(s): ELECTRICAL SYSTEM Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2011-2012 Cadillac Escalade, Escalade ESV, Escalade EXT, Chevrolet Avalanche, Silverado HD, Silverado LD, Suburban, Tahoe, GMC Sierra LD, Sierra HD, Yukon, and Yukon XL vehicles. In the affected vehicles, the ignition lock actuator may bind, making turning the key difficult or causing the ignition to get stuck in the "Start" position. CONSEQUENCE: If stuck in the "Start" position, the ignition may suddenly snap back into the "Accessory" position, causing a loss of engine, steering, and braking power, increasing the risk of a vehicle crash. If the vehicle is in a crash, the air bags may not deploy, increasing the risk of occupant injury. REMEDY: GM will notify owners, and dealers will inspect and replace the ignition lock housing, as necessary, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact GM customer service at 1-800-458-8006 (Cadillac), 1-800-222-1020 (Chevrolet), or 1-800-462-8782 (GMC). GM's number for this recall is 14696 for the original equipment, and 14912 for the service replacement parts.

Genovation Cars readies all-electric Corvette prototype

Chevy runs the full spectrum from some of the most environmentally friendly cars to the least. At one end are EVs like the Spark and Volt. At the other, performance models like the Camaro and Corvette. But one American company wants to bridge that divide. That company is Rockville, MD-based Genovation Cars, which reports that it is almost done building its prototype for an all-electric Corvette. Dubbed the Genovation Extreme Electric (or GXE for short), the prototype is based on a previous-generation 2006 Chevy Corvette Z06, but ditches its enormous 7.0-liter V8 for an array of inverters, batteries, and electric motors said to be good for over 700 horsepower and 600 pound-feet of torque. That promises to deliver a 0-60 time of about 3.0 seconds and a top speed in excess of 200 miles per hour. Those are supercar benchmarks for performance if we've ever seen them, and ought to leave even the top-spec Tesla Model S P85D in... well, not a cloud of smoke, but whatever the electric equivalent is, in a non-polluting cloud of that. The GXE is also supposed to be able to travel for 150 miles on a single charge, and handle well while it's at it with 50/50 front-rear weight distribution and a low center of gravity. Sorta like the Power Wheels 'Vette pictured above, then, but bigger and faster. Look for the GXE to debut at the Electric Vehicle Technology Expo this coming September in Michigan, after which Genovation says it will put the GXE to the test on the track to back up its performance claims. Genovation Cars Nearing Completion of High-Performance All-Electric Corvette, the GXE ROCKVILLE, Md.--(BUSINESS WIRE)--Genovation Cars is nearing the completion of a prototype high-performance all-electric Corvette called the Genovation Extreme Electric or GXE. Assembly of the GXE will be completed by the end of July, followed by a three-week testing phase. The GXE is based on a 2006 Z06 Corvette. Several contributors to the GXE effort have helped design and build record-breaking electric vehicles. They include an MIT electrical engineer and a mechanical engineer from Cosworth. "We are using state of the art inverters, batteries and electric motors that will produce in excess of 700-hp and 600 lb-ft of torque," said Genovation CEO Andrew Saul. "We expect the car to achieve 0-60 mph in around three seconds and have a top speed of over 200 mph.