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GM invests $175 million in Chevy Camaro factory

General Motors just keeps rolling out portions of its $5.4-billion plan for factory upgrades over the next three years. In the latest announcement, the automotive giant is putting $175 million into the Lansing Grand River Assembly Plant for improvements to build the 2016 Chevrolet Camaro. The investment brings new equipment to the plant to build the pony car. An upgrade is needed to support Camaro-specific colors like Summit White, Bright Yellow, and Red Hot, and the factory is also getting two robotic framers. A second shift of 500 workers is resuming in Lansing later this summer to produce the model, as well. So far, GM has announced allocations for $2.8 billion of the $5.4 billion in upgrades. The investments include $1.2 billion to improve pickup production, $439 million for a paint shop for the Corvette, and more new equipment at other plants too. Lansing Grand River Plant Tools Up for 2016 Camaro $175 million investment enables production of lighter, more powerful model 2015-05-28 LANSING, Mich. – A $175 million investment for new tooling and equipment for the sixth-generation Chevrolet Camaro, and the return of hundreds of workers to build America's best-selling performance car for the last five years, was announced today. The facility improvements include three new paint systems for Camaro-specific colors: Summit White, Bright Yellow, and Red Hot. The investment also includes installation of two robotic framers, which allow better dimensional control to provide a more precise drive experience. The Lansing Grand River Assembly Plant will resume a second shift of 500 jobs in late summer. The all-new Chevrolet Camaro was introduced on Detroit's Belle Isle on May 16. The current generation Camaro has been America's favorite performance car for five consecutive years, attracting both long-term Camaro fans and new buyers to Chevrolet. To improve on that success, the sixth-generation Camaro elevates every aspect of Camaro with a suite of new technologies, even higher levels of performance and fuel economy, and a leaner, more athletic design. "I may be the luckiest mayor in America today," said Lansing Mayor Virg Bernero. "Gearing up for full-scale production of the legendary Chevy Camaro is a new high point in the more than two decades of extraordinary partnership between the City of Lansing, General Motors and the UAW.

Consumer Reports declares most and least loved cars [w/video]

Consumer Reports is crunching the numbers from its annual owner-satisfaction survey, and part of that process is finding out how attached drivers are to their cars. CR simply asks readers of models up to three years old if they would buy the same vehicle again in light of their entire ownership experience, and tallies the results. After looking at the responses for about 350,000 vehicles, it turns out that people really love a certain California-built, electrically powered luxury sedan. That's right, this year's the overall winner was the Tesla Model S with a whopping 98 percent of owners saying they would purchase another one (the Model S also won this award last year, with 99 percent satisfaction). The Chevrolet Corvette Stingray came in a close second with 95 percent of drivers hoping to park another one in their garage. A few models weren't quite so favored, though. The Nissan Versa Sedan was the least loved model among its owners; a mere 42 percent said that they would purchase another. The aging Jeep Compass didn't do much better, with just 43 percent of drivers willing to buy the softroader again. On average, about 70 percent of owners say they would buy their car again, and only four cars ranked below 50 percent in CR's findings. Check out the video above to see some of the winners and losers in a few of CR's categories. If you're a subscriber, you can check out the full list on its website. Related Gallery Consumer Reports Most Loved Cars 2014 Related Gallery Consumer Reports Least Loved Cars 2014 News Source: Consumer Reports - sub. req., Consumer Reports via YouTube Chevrolet Ford Mazda Mercedes-Benz Porsche Subaru Tesla Ownership Videos car ownership

GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC