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GM laying off more than 4,000 workers Monday morning

According to reports from Automotive News, The Detroit News, and CNN, General Motors plans to begin laying off more than 4,000 salaried workers starting Monday morning. In a statement to AN, a spokesperson for the automaker said, "We are not confirming timing. Our employees are our priority. We will communicate with them first." We've been expecting layoffs at General Motors since November, 2018. At the time, the Detroit-based automaker announced it would seek to shed 8,100 salaried employees, shut down five assembly plants in North America, and kill off several slow-selling models. One month earlier, GM offered buyout packages to 18,000 workers and said it would seek to cut its global workforce by 25 percent. A spokesperson said at the time the moves were "proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance." The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. We expect to hear plenty more from both sides over the next several days.

GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Buick confirms US-market Envision CUV to be built in China

As expected, the Buick Envision will come to the US market in 2016, and as rumored, it'll be GM's first product imported from the People's Republic. Buick confirmed the news today, while also releasing a number of technical details on the mid-size CUV, which has sold nearly 130,000 units in the Chinese domestic market in the first 11 months of 2015. When it arrives in US dealers next summer, the Envision will feature a 2.0-liter, turbocharged four-cylinder EcoTec four-cylinder. Good for an estimated 252 horsepower and 260 pound-feet of torque, the four-pot turbo is paired to a well-received six-speed Hydra-Matic 6T70 transmission. That's the same automatic gearbox that's offered in the turbocharged Regal and Regal GS and the current six-cylinder LaCrosse. The entire affair is underpinned by torque-steer-fighting HiPer strut front suspension, a crossover first for Buick, with a four-link setup in back. According to Buick, the Envision will also get the same Active Twin Clutch all-wheel-drive system being offered on the Cadillac XT5 and the new LaCrosse. Like the Chinese-market Envision, Buick is offering the USDM model with active grille shutters, LED running lights, LED taillights, heated front/rear seats, a heated steering wheel, 19-inch wheels, and a Bose stereo as standard. Buick also lists highlights like Active Noise Cancellation and an eight-inch IntelliLink infotainment system, although it's not clear whether these are standard features. There's no word on which auto show the Envision will debut at. Considering the timing, next month's Detroit Auto Show is a strong contender, although if Buick wanted to really drum up headlines ahead of its on-sale date next summer, it'd formally introduce its newest CUV in April, at the New York Auto Show. Either way, expect to see more of this handsome, Chinese-built CUV soon. Related Video: Buick Envision North American Market Fact Sheet 2015-12-04 The Buick Envision was designed, engineered and tested in Michigan as a world-class luxury crossover to challenge the world's best competition. It was awarded Motor Trend SUV of the Year in China and has 127,085 sales so far this year. When it goes on sale in 2016, it will play an important role in a crossover lineup that currently represents 60 percent of Buick sales in North America. It targets customers shopping between the Encore, the best-selling Buick in eight years, and the Enclave, which has continued to grow its customer base since its 2007 introduction.