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Huge, pricey trucks haul jobs and profits for the Detroit Three

DECATUR, Texas — Mickey McMaster is on his 12th pickup truck. The 61-year old farm equipment dealer in Decatur, Texas, two weeks ago treated himself to a 2019 GMC Denali for around $69,000 — a reward for long hours at work. "For me this is the Cadillac of trucks, it's a real luxury vehicle," McMaster said. "I've worked my way up to afford a truck like this and it shows that I've earned it." McMaster is the kind of customer General Motors Co is banking on as it plans to add 1,000 jobs at a plant in Flint, Michigan that will build a new generation of its largest pickups. Demand from Texas and other heartland states for big pick-ups is providing a lifeline to many workers the No. 1 U.S. automaker is laying off at plants elsewhere. The Detroit Three automakers and thousands of their U.S. workers are counting on customers like McMaster to keep buying bigger and more luxurious pickup trucks even if overall U.S. vehicle demand weakens this year, as most analysts predict. At Flint, GM will build a new generation of its heavy-duty Chevrolet Silverado and GMC Sierras, including luxury models that are some of the most profitable vehicles on the planet. GM, Ford Motor Co and Fiat Chrysler Automobiles NV's Ram division own the segment and are each doubling down with new or redesigned models launching this year. Sales of heavy-duty pickups in the United States have grown to more than 600,000 vehicles a year, up more than 20 percent since 2013, according to industry data. Prices for luxury models can easily top $70,000. GM on Tuesday celebrated the launch of a new generation of heavy-duty GMC and Chevrolet pickups at the assembly plant in Flint, Michigan, that is now building all such trucks for the company. At the same time that GM is laying off thousands of U.S. workers and planning to shutter five North American factories, Flint is hiring. The plant runs on three daily shifts, six days a week. As the new model's assembly system ramps up, the plant's capacity will increase by more than 25 percent, plant manager Mike Perez told Reuters. The Flint plant plans to add 1,000 workers, more than half of the 1,500 factory workers who have asked to transfer from plants GM has targeted for shutdown as part of CEO Mary Barra's restructuring plan. "We're bringing in 50 to 100 people every week," said Perez. Workers last week were still finishing the job of retooling the Flint factory to build the new heavy-duty trucks as part of a $1.5 billion investment project.

Drivers buy new $300K McLaren 720S, 2019 Chevy Corvette, and wreck 'em

Two high-powered, high-priced sports cars, wrecked in their infancies. No doubt they were fun while they lasted. In Great Falls, Va., a tony suburb of Washington, D.C., that hugs the Potomac River, someone was out enjoying driving the McLaren 720S they had purchased only the day before on a leafy, two-lane road. Then, horror: In an instant, the car hit a tree, mangled and destroyed "because of speed," according to the Fairfax County Police Department. Purchased Friday. Totaled Saturday. This McLaren 720S, costing around $300,000, was destroyed today in Great Falls because of speed. The driver was taken to the hospital with thankfully only non-life threatening injuries. A reminder to slow down, or it could cost you. pic.twitter.com/XhC3LKRY1t — Fairfax County Police (@FairfaxCountyPD) July 14, 2018 Then on salvage auction site Copart, a brand-new orange 2019 Chevrolet Corvette Grand Sport lies in a warehouse in Lincoln, Neb., its front left corner crushed, wheel askew. It had just 15 miles on the odometer. We know nothing of the backstory, except for the obvious front-end damage and secondary damage to the undercarriage. The rear end and 6.2-liter V8 engine, which makes 460 horsepower and 465 pound-feet of torque, look OK. The most current bid as this was published was just north of $9,000. It's tempting in both cases to assign the blame to over-eager drivers who weren't quite yet able to corral all that power. In the case of the McLaren, the supercar makes 710 horsepower and 568 pound-feet of torque from its quad-cam, twin-turbo 4.0-liter V8. It goes from 0-62 miles per hour in 2.9 seconds and boasts a top speed of 212 mph. We're not saying the unidentified driver was a newbie, but this car is definitely not for newbies. Police write that the incident is "A reminder to slow down, or it could cost you." As in, $300,000. Or at least the depreciation for driving it off the lot. Related Video:

Porsche and Buick earn top honors in J.D. Power Sales Satisfaction Index Study

Customer satisfaction with car buying has been at a low point over the past few years, as price increases, inventory shortages, and COVID restrictions have complicated every part of the process. There are signs of improvement, however, as J.D. Power’s 2023 U.S. Sales Satisfaction Index Study showed that customer satisfaction has improved slightly from a year ago. J.D. Power rates satisfaction on a 1,000-point scale, finding that it improved seven points to 793 from last year. Improving inventory levels and a slow leveling off of prices have contributed to that improvement, and fewer people are paying above MSRP for new cars. Some auto brands performed better than others with sales satisfaction. Porsche ranked highest among premium brands, followed by Alfa Romeo. Buick took the top spot among mass-market brands, with GMC, Chevrolet, and Mitsubishi behind. J.D. Power also handed out segment-level awards: Premium Cars: Porsche Premium SUV: Porsche Mass-Market Car: Chevrolet Mass-Market SUV/Minivan: GMC Mass-Market Truck: GMC Despite the increase in sales satisfaction, thereÂ’s still room for improvement to reach pre-pandemic levels. J.D. Power noted gaps in salesperson knowledge as an area of improvement. Buyers rated salespeople much better during a gas vehicle purchase than with EVs, citing their expertise as a challenge. Pricing remains a challenge despite an improvement since 2022, and satisfaction is still below pre-pandemic levels. Mass-market buyers reported a slight bump in satisfaction, while premium buyers felt that pricing was less fair than a year before. ItÂ’s an interesting contrast, showing that dealer pricing tactics can significantly impact satisfaction with the sales process. Fewer people may be paying more than MSRP, but several premium models still list with significant markups. Even more interesting is PorscheÂ’s top spot on the satisfaction list, as its cars often sell with huge upcharges, and itÂ’s exceedingly tricky even to get a build allocation for some models. Buick Chevrolet GMC Porsche Car Buying Ownership