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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.

2024 Buick Envista Review: Looks like $60,000, costs less than $30,000

Pros: Compelling design; ample space for the segment; quiet and refined driving experience; punchy and efficient engine; well-equipped; low price Cons: All-wheel drive not available; armrests are a bit hard The 2024 Buick Envista is one of the best, most competitive and most relevant cars to come out of General Motors in a long time. It is wildly impressive and truly surprising. We had multiple people guess the Copper Ice test car pictured above cost $60,000 or even $80,000, and we agree that it certainly looks expensive. And yet, that Sport Touring test car stickers for $29,070 and isn’t even the top-of-the-line. That puts it in the heart of the subcompact SUV segment, but it boasts one of the biggest back seats and cargo areas in that segment. You certainly wouldnÂ’t guess that by looking at its rakish roofline. Its interior looks almost as good as the exterior, and provides lots of features for the money, including tech that looks great and is easy to use. It is rare for a car to be both a sensible choice and an emotional one, but the Envista is just that. So, how can the Envista be such a bargain in these inflationary times? Being built in Korea rather than by North American union members probably helps. Another key reason, though, is Buick cutting costs in smart areas. The engine is not powerful and its 0-60-mph time in the mid-9-second range is on the slow side, but when behind the wheel, the little turbocharged three-cylinder is punchy around town, its pleasingly snarl-like noise is nicely quelled by ample sound deadening, and its six-speed automatic transmission (perhaps a cost savings itself) does its job without fuss unlike the complicated transmissions of most rivals. The interior also sees the sort of hard plastics indicative of its segment, but the plastics donÂ’t look cheap and are mostly in places where your hands and elbows donÂ’t touch. The lack of all-wheel drive might be a dealbreaker for some, but otherwise, its cons are either justified by the low price or covered up by thoughtful design and engineering. ThatÂ’s a mark of the best inexpensive cars. The new Buick Envista is one of them. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2024? The Envista is an all-new model for 2024. What are the Envista interior and in-car technology like?

Buick Velite is a not-so-Volt-like plug-in hybrid concept for China

Is the Buick Velite a Volt by any other name? That's a question worth asking after General Motors said that the Buick Velite concept vehicle will make its global debut at the Guangzhou Auto Show later this month. GM says the car "will provide a template for upcoming models being launched under the Buick Blue new energy vehicle strategy." Whether that means the Velite is a variant of the second-generation of the Chevrolet Volt extended-range plug-in is open to interpretation. Some automotive publications, including Autoweek, are saying that's the case, but GM China doesn't mention the Volt in its press release, only saying that the car is a "high-performance" plug-in hybrid vehicle. As we know, GM doesn't use the "PHEV" descriptor for the Volt, which makes us thing the Velite's powertrain is more like the Cadillac CT6 PHEV. Either way, the concept was developed by the Pan Asia Technical Automotive Center (PATAC), which is a joint venture between GM and Shanghai-based SAIC. As far as the name, GM has been shopping the Velite moniker around for a while now. The automaker first used Buick Velite for the convertible concept vehicle it showed off at the 2004 New York Auto Show. More recently, GM in 2014 filed to use the name for the US variant of its Opel Cascada four-seat convertible model, which debuted in 2013. As for the second-generation version of the Volt, that model appears to be gaining favor in the US. Domestic sales of the Volt through October have surged 64 percent from a year earlier to more than 18,500 units. The new version boosted its all-electric range by 40 percent to 53 miles while increasing its power output by 20 percent. Related Video: News Source: General Motors via Autoweek, Automotive News-sub.req. Green Buick Chevrolet Electric Hybrid PHEV buick velite