1989 Cadillac Sts, No Reserve on 2040-cars

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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.

2020 Cadillac CT5 in New York: 7 questions with the chief engineer

Cadillac revealed the 2020 CT5 at the New York Auto Show, and we decided to sit down and have a chat with chief engineer Mike Bride to learn more about the car. You can read our reveal post here to get the full download, and then read on below to learn a bit more. Cadillac is still rather coy about any performance model to spawn from the CT5, but things appear to be looking up after our conversation that you can read below. Q: What's the driving nature of this car? Should we expect something similar to the CTS and ATS? A: Yes, you can see it's built off the rear-wheel-drive architecture. Our goal was to retain all of that fun-to-drive nature. Direct steering feel, responsive handling. Going forward, we ask how we can continuously improve, and that was really about driving more sophistication in the ride, a much more mannered car that's better for impact harshness and rolling isolation, really provides comfort when you want comfort over tire strips and heaves in the road. Really getting that level of isolation, but not compromising that handling and direct steering feel of the Cadillac sedans we've grown accustomed to. Q: How is this car different from the CTS underneath, and other Alpha platform cars? A: I would say this is a major revision. A lot of new parts, a lot of new part numbers, a significant evolution. In the suspension space, the links are all new, and there's been a lot of work done in isolation, so the bushings and strut mounts are all new. We've evolved the Alpha platform to now get the ride control and road isolation, the comfort aspects of it all. There are a lot of structural improvements like a changed wheelbase, an evolution in rear foot-swing and foot space from the fuel tank area to get in and out of the car better. As we developed this structure, it was about overall structural body stiffness, and impedance at the chassis attachments to really get that level of isolation from road inputs. We try to have a calm floor, a steering wheel that doesn't vibrate, and quiet to the driver's ear. Those were the paths we went after to really drive the structure to the right stiffness requirements, structural integrity, a lot of development into suspension bushings, tuning elements, strut mounts. We have a new damper technology, a ZF damper. It has MVS damper technology. It's a multi-valve system that provides less harshness from an NVH standpoint and a great optimization balance of motion control with ride inputs.

GM to cut production at 5 plants in North America, kill several models

DETROIT/WASHINGTON — General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a stagnant market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. The announcement is the biggest restructuring in North America for the U.S. No. 1 carmaker since its bankruptcy a decade ago. GM said it will take pre-tax charges of $3 billion to $3.8 billion to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6 billion by the end of 2020. GM plans to halt production next year at three assembly plants: Lordstown, Ohio, Hamtramck, Michigan, and Oshawa, Ontario. The company also plans to stop building several models now assembled at those plants, including the Chevrolet Cruze, the Cadillac CT6 and the Buick LaCrosse, the sources said. Sources said the Chevrolet Volt, Impala and Cadillac XTS would also be discontinued. Signs of the demise of six passenger-car models have been swirling since July. Plants in Baltimore, Maryland, and Warren, Michigan, that assemble powertrain components have no products assigned to them after 2019 and thus are at risk of closure, the company said. It will also close two factories outside North America, but did not identify those plants. The AP reported that 14,700 jobs would be affected. Some 8,100 of those would be white-collar jobs reduced through buyouts or layoffs. The No. 1 U.S. automaker signaled the latest belt-tightening in late October when it offered buyouts to 50,000 salaried employees in North America. The company also said it will cut executive ranks by 25 per cent to "streamline decision making." Some 6,000 factory workers could lose their jobs or be transferred to other plants. Its shares were last up 6.2 percent at $38.16. Tariff 'headwinds' and cost-cutting GM Chief Executive Officer Mary Barra told reporters on Monday the company can reduce annual capital spending by $1.5 billion and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. Some 75 percent of its global sales will come from just five vehicle architectures by early in the 2020s. It plans to reduce annual capital spending to $7 billion by 2020 from an average of $8.5 billion a year during the 2017-2019 period.