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GM announces net 220 job increase as Trump visits Michigan

GM announced today that about 900 jobs would be added (or, importantly, retained) ahead of President Trump's arrival in Michigan, where he is expected to discuss his plan to roll back fuel economy standards. The timing of the announcement is almost certainly not coincidental, as appending it to a Trump visit gives it a higher profile and dovetails with the President's jobs agenda. It's less likely the decision itself was made for those reasons, but the free PR boost is a nice bonus. As for those 900 jobs themselves, they aren't all new jobs. The only net gain is approximately 220 jobs at the Romulus Powertrain Plant, which produces the 10-speed automatic transmission that's proliferating through the company's lineup. The 180 jobs at Flint Assembly and 500 jobs at Lansing Delta Township are retained jobs – that is to say, spots the company found for workers who would otherwise have been laid off. By the way, the Flint jobs will help with production of heavy-duty pickups, and the Lansing jobs are to produce the Chevrolet Traverse and Buick Enclave. Finding jobs for manufacturing workers in the auto sector, whether new or retained, is admirable. No matter how GM couches it, the company has created or retained a total of 7,000 jobs this year, and its total reinvestment in US production is around $1 billion. But these decisions are business ones, not political ones – timing the announcements to make them seem inspired by economic policy, or the political situation, is simply smart PR. Related Video: Image Credit: Bill Pugliano/Getty Images Celebrities Government/Legal Buick Cadillac Chevrolet GMC

GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Chevy rolls out Corvette Z06 C7.R Edition at SEMA

It's not just concept vehicles that Chevy is showcasing at SEMA this year. The Bowtie brand is also taking the occasion of the tuner expo to reveal the new Corvette Z06 C7.R Edition. The special edition of the flagship performance model pays tribute to the racing model with a series of special touches and upgrades. The C7.R edition is based on the Z06 in 3LZ trim, and comes equipped with the Z07 Performance Package, including Brembo carbon-ceramic brakes and Michelin Pilot Sport Cup 2 tires. But that's not the end of the story. It also includes special graphics, yellow brake calipers, yellow-striped black wheels, a carbon ground effects package, carbon hood section, metallic gray grilles and vents, and a black leather interior with sueded microfiber trim, Competition Sports seats, and yellow stitching. Buyers will be able to order theirs in black or yellow and in either coupe or convertible body-styles. Only 650 examples will be made, of which 500 will remain in the United States, and each of them is individually numbered starting with the VIN 700001. Of course, being based on the Z06 we already know, it packs a 6.2-liter supercharged V8 engine good for 650 horsepower and an equal measure of torque. With the Z06 pack, that translates to a 0-60 time of under 3 seconds for the automatic version and 3.2 for the manual. Related Video: Corvette Z06 C7.R Edition Pays Tribute to Racing Legacy Distinctive appearance package complements capability with special-edition style LAS VEGAS – When the Z06 rejoined the Corvette lineup in 2015 as the most capable model in the car's long, storied history, it also joined an elite fraternity of the world's most capable supercars – with performance proven on the track, including winning Car and Driver's 2015 Lightning Lap evaluation. The Corvette Z06's capability is derived in no small part from technology and experience leveraged from the championship Corvette Racing program. That connection is celebrated with the 2016 C7.R Edition. It's offered in Corvette Racing's signature yellow livery – or black – with coordinated exterior and interior accents. Only 650 will be built (500 for the U.S. market), all with the Z07 Performance Package with carbon ceramic brakes, and a specially serialized vehicle identification number.