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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.

Super Bowl LVII car commercial roundup: Watch them all here

Fewer automakers than usual spent money advertising during Super Bowl LVII. In total, there were only five traditional ad spots from three big OEMs. A number of car-adjacent ads aired during the Big Game, too, and we’ll bring you those ads in this roundup alongside the more obvious ones. WeÂ’ve compiled all of the automotive-related commercials for you here in this post so you donÂ’t have to go searching for them elsewhere. Read on below to see what aired as the Kansas City Chiefs defeated the Philadelphia Eagles. Ram's Super Bowl spot offers a cure for 'Premature Electrification' This commercial revealed the new electric Ram Rev pickup, and itÂ’s themed like a prescription ad for an antidote to "Premature Electrification.” A concerned narrator in the Ram spot asks if you're afraid that going electric too soon will mean "you might not be able to last as long as you like," and there's a guy on a pier who's going to need some new equipment if he wants to catch fish. We're also told there are "options being designed to extend range in satisfying ways," so if this truck isn't right for you, you have choices. All the commercial's missing is a silly medical marketing name and six seconds of speed-reading gibberish about side effects like intestinal bleeding and death. Which are two more good things. Jeep 4xe Super Bowl commercial highlights modern version of 'Electric Boogie' JeepÂ’s “Electric Boogie” commercial follows the Wrangler 4xe and Grand Cherokee 4xe in a variety of simulated off-road situations. Though fun, the soundtrack is the real star of the show. The songÂ’s original artist, Marcia Griffiths, was joined by Grammy winner Shaggy, Jamila Falak, Amber Lee, and Moyann on the track. The modernized re-recording celebrates 40 years since GriffithsÂ’ original track, and Jeep says the track is available for streaming now. Kia returns to the Super Bowl with the tale of 'Binky Dad' This year, Kia follows the adventure of "Binky Dad" in his quest to fetch his daughter's lost pacifier, which naturally takes him over just about every bit of terrain you might encounter upon leaving the civilized confines of Southern California for the not-so-civilized mountains of ... probably also California. It features the refreshed 2023 Kia Telluride, which probably doesnÂ’t need much advertising to see these days, but Kia went for it with the strong three-row SUV anyway.

Cadillac's Blackwing V8 was the best engine at the worst time

It should be clear that GM knows how to innovate and engineer excellent products when it wants to. Cadillac's 4.2-liter twin-turbo Blackwing V8 is recent proof of that. Yet, as related in an extensive Road & Track piece, the Blackwing became victim to some of The General's bugbears, like the reticence to — for whatever reasons — unleash its excellence everywhere, fund that excellence, and be consistent with that excellence over the long term beyond the Corvette and full-sized pickups and SUVs. The R/T story relates tales told by "several people deeply involved with the Blackwing project" about how an engine 18 years in the making was deprived of its reasons for being in less than three. Starting around 2000, GM spent a dozen years building Cadillac up to the point where the American luxury brand could rationally flip to the chapter called, "Taking the Fight to the Germans, but for Real this Time." The first steps in the plan meant an exclusive platform and an exclusive engine. The platform was called Omega. You know the engine's name. They were going to be the aluminum-blocked fist and velvet glove enabling Cadillac to break on through to the other side of luxury — proper luxury to global standards, that is — with a range of beautiful and dynamic crossovers and sedans. An engineer involved in the project estimates GM poured $16 million into the Blackwing's clean-sheet development. Many more seven-figure sums went into creating the first sedan on the Omega platform, the CT6. The automaker dropped millions again poaching ex-Audi and Infiniti chief Johan de Nysschen, and moving Cadillac's headquarters to New York City in 2014. Further pallets of cash funded the development and debut of the Escala concept at Pebble Beach in 2016. In 2018, GM revealed its dramatically named DOHC twin-turbo V8. Considering what came before, the Blackwing clearly wasn't designed for cars. It was designed for world domination. However, against the backdrop of plummeting sedan sales, the CT6 didn't sell like GM had hoped. The automaker hesitated to marshal another fleet of Brinks trucks to fund entries into a cratering bodystyle. Removing sedans from the world domination equation created more difficult math for the crossovers and the Escala.