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GM promises to add 20 EVs and fuel-cell cars to lineup, paid for by SUVs

DETROIT — General Motors outlined plans on Monday to add 20 new battery electric and fuel-cell vehicles to its global product lineup by 2023, financed by robust profits from sales of gasoline-fueled trucks and sport utility vehicles in the United States and China. "General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center. Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars. Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040. "We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said. GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank. Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines. The company offered sneak peeks of three EV prototypes: a Buick SUV, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM funds its forays into new technology using a river of cash generated by old-technology vehicles popular with its core customer base in the United States heartland. In comparison, Tesla has burned through an estimated $10 billion in cash and has yet to show a full year profit. GM earned more than 90 percent of its $12.5 billion in pretax profits last year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks. The company's profitable operations in China rely on consumer demand for an expanding lineup of gasoline powered SUVs. GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM collaborated with Korean battery maker LG Chem to build the Bolt battery system. Company officials did not say what companies would supply batteries for the larger fleet of vehicles promised by 2023. Fuel-cell vehicles will also play a role in GM's future, the company said.

Luxury car brands scrambling to avoid a blue Christmas

DETROIT — When financial markets surge to new records, sales of luxury cars usually rise, too. Instead, October U.S. auto sales reports on Wednesday showed that a collapse in sales of luxury sedans is accelerating. Consumers have gradually shifted over to luxury sport utility vehicles from sedans in the past decade, but the trend — which has occurred in both the non-luxury and luxury sedan segments of the auto market — was particularly pronounced in October. Sales of Daimler AG's Mercedes-Benz S-Class, long a global benchmark for large, premium sedans, plunged 49 percent in October, and are down 24.8 percent for the year to date. General Motors' Cadillac brand said it sold just 779 of its CTS sedans in October. Demand for that car, designed to compete with German luxury sedans, is down nearly 33 percent for the year. "There's still a significant portion of the market that wants a car, but I'm sure there were people who preferred a horse to a car at one point." Cadillac's best-selling model this year is the XT5 compact SUV, which has more than doubled sales from a year ago. The shift within the luxury vehicle market away from sedans toward SUVs of all sizes is forcing some of the most prestigious brands to scramble to add SUV models to their lineups or boost SUV production to meet demand. "In the short term, there will be pressure to add (consumer) incentives, cut production or both," said Cox Automotive analyst Michelle Krebs. "And we just don't see an end in sight to this trend." The Dow Jones Industrial Average has been trading at all-time highs, usually a good sign for luxury sedans, but as major automakers reported new U.S. vehicle sales for October on Wednesday, sales for passenger cars continued their slide while luxury SUV and crossover sales rose again. According to Kelley Blue Book data, in 2007 luxury sedans made up 7.6 percent of U.S. new vehicle sales, while luxury SUVs made up 4.2 percent. Through September this year, luxury SUVs made up just over 7 percent of the market, compared with 4.9 percent for luxury sedans. In the short term, luxury brands could use holiday season sales promotions to clear slow-selling sedans off dealer lots, analysts said. Toyota's Lexus brand said on Wednesday it will launch its "December to Remember" year-end sales promotion for the 18th straight year.

GM's Cruise Origin EV platform to be shared by many electric vehicles

GM on Monday announced that it was spending $2.2 billion at its Detroit-Hamtramck facility, part of its $3 billion commitment made after the UAW strike to transform Hamtramck into the company's first plant to exclusively build a wide variety of electric and autonomous vehicles. The operation will eventually employ 2,225 people. Hamtramck is still building the Cadillac CT6 and Chevy Impala. Production of those cars will wind down Feb. 28, when GM will idle the lines for 18 months of retooling. During the transition, more than 800 workers will likely be transferred to build pickups at Fort Wayne, Indiana, or Flint, Michigan. When Hamtramck production of new EVs begins in late 2021, the Cruise Origin electric shuttle revealed last week will be among the first vehicles built there. Also, an electric pickup likely branded as a Hummer to be sold as a GMC, which will be debuted by LeBron James during the Super Bowl this Sunday. GM made quite a few pronouncements during the unveiling of the electric, autonomous Cruise Origin last week in San Francisco. We heard that the Origin was designed to last for for 1 million miles, be "roughly half the cost of what a conventional electric SUV costs today,” and riders could save as much as $5,000 per year by giving up their cars for Origins. Much was left out, as well, such as detailed specs on the platform, and when the Origin could see wide deployment. Carscoops addressed one open question about the platform, reporting that the Origin's bones will be shared among a number of other GM battery-electric vehicles, probably starting with the Cadillac EV due in 2021. The site received confirmation of that tidbit from Megan Soule, the automaker's assistant manager of Electrification, Battery Technology, Fuel Cells, R&D and GM Ventures Communications. It seems what we've been shown in the Origin is the first fruit of the multi-vehicle EV strategy GM CEO Marry Barra presented at the 2017 Barclays Global Automotive Conference. One of the slides (below, full PDF presentation here) touts an "All new multi-brand, multi-segment platform" with a "Structurally integrated all new battery system." The next slide places that modular platform at the center of 11 new vehicles, the van-looking silhouette on the upper right labeled "SAV," for shared autonomous vehicle, apparently in reference to the Origin.