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Cadillac prices new XT5 from $39,990

Keen to put your deposit down for a new Cadillac XT5, but waiting to find out how much you'll need to set aside? Well the wait is over, friend, as Cadillac has announced pricing for the new crossover. US pricing starts at $38,995, which works out to $39,990 once you factor in the standard $995 destination charge. That's only $1,390 more than the now wreathless brand charged for the outgoing SRX, which the new XT5 replaces and which carried a starting price of $38,600 (delivered). It also undercuts the competition from most other luxury automakers. The BMW X3 ($40,495), Audi Q5 ($40,900), Lexus RX 350 ($42,850), and Infiniti QX70 ($45,850) each start at a higher base price than the Caddy. However the Mercedes GLE stats marginally lower at $39,875, and the Lincoln MKX goes for significantly less at $37,935 – all prices including destination charges. Of course, that starting price is just for the base model with front-wheel drive. All-wheel drive is optional on Luxury and Premium models, but comes standard on the top-spec Platinum. Step that far up the ladder, though, and you'll be looking at $63,495 (delivered). Related Video: New 2017 Cadillac XT5 Crossover Arrives in April 2017 XT5 CROSSOVER PRICED FROM $38,995 IN THE U.S. 2016-02-10 The first-ever Cadillac XT5 will arrive in U.S. dealerships in early-April, continuing the brand's product-driven growth. XT5 enters the strongest category in the luxury automotive space, the midsize luxury crossover segment, where Cadillac set sales records in 2015. "The arrival of this sophisticated new crossover positions Cadillac well, as XT5 enters the most popular segment in the global luxury market," said Cadillac President Johan de Nysschen. "It's pivotal to our ongoing growth, which is why we've developed XT5 from the inside out to provide customers more space, more technology, more luxury and more efficiency." The XT5 is the first in a series of upcoming luxury crossovers carrying the "XT" designation, a key aspect of the brand's product-driven global growth plan. The new luxury crossover joins Cadillac's lineup immediately following the new range-topping CT6 Sedan, as the brand enters a new phase of product growth. The XT5 is the next chapter in elevating the Cadillac brand: it is bold, distinctive and sophisticated with enhanced driving dynamics. This new crossover perfectly reflects Cadillac's positioning in the luxury automotive marketplace, de Nysschen said.

GM extends vehicle production cuts into mid-March due to global chip shortage

DETROIT — General Motors said on Tuesday it was extending production cuts at three North American plants until at least mid-March due to the global semiconductor chip shortage, while vehicles at two other factories would only be partially built. GM, whose shares dipped 1% after the announcement, did not disclose the impact volumes or say which supplier and vehicle parts were affected by the chip shortage. But it said it would focus on keeping production running at plants building its highest-profit vehicles, full-size pickup trucks and SUVs. GM said it intended to make up as much lost production as possible once the shortage chip eased. "Semiconductor supply remains an issue that is facing the entire industry. GM's plan is to leverage every available semiconductor to build and ship our most popular and in-demand products," GM spokesman David Barnas said. GM said it was extending downtime at its U.S. plant in Fairfax, Kansas, its Canadian factory in Ingersoll, Ontario, and its Mexican facility in San Luis Petosi until mid-March when it would reassess the situation, he said. In addition, GM would build but leave incomplete for final assembly vehicles at Wentzville, Missouri, and its Mexican plant at Ramos Arizpe. GM vehicles affected by the idled plants include the Chevrolet Malibu sedan, Cadillac XT4 SUV, Chevy Equinox, and GMC Terrain SUVs. Vehicles to be left incomplete for now included the Chevy Colorado, GMC Canyon pickups and Chevy Blazer SUV. This week, GM had said it was idling the three factories where it has now extended downtime and said it would halve production at a plant in South Korea. The chip shortage has affected many automakers, including Toyota, Volkswagen, Stellantis, Ford, Renault, Subaru, Nissan, Honda and Mazda. Asian chipmakers are rushing to boost production but say the supply gap will take many months to plug. German chipmaker Infineon said the shortage would get worse in the near term. The chip shortage is expected to cut global output in the first quarter by more than 670,000 vehicles and last into the third quarter, IHS Markit said. AutoForecast Solutions estimated total lost production this year could reach 1 million vehicles. Honda and Nissan said on Tuesday they would sell 250,000 fewer cars in total this financial year due.

GM and LG Energy Solution will build their second battery plant in Tennessee

DETROIT — General Motors and South Korean joint-venture partner LG Energy Solution on Friday said they will build a second U.S. battery cell manufacturing plant, revealing plans for a $2.3 billion factory in Spring Hill, Tennessee. The planned 2.8 million-square-foot plant, scheduled to open in late 2023, will employ 1,300 people and will have production capacity of about 35 gigawatt-hours, similar to the companies' Ultium Cells joint-venture plant in Lordstown, Ohio, as they move to respond to the growing demand in the electric vehicle market. The plant's capacity would enable it to supply battery packs for more than 500,000 electric vehicles a year. "The addition of our second all-new Ultium battery cell plant in the U.S. with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future," GM Chief Executive Mary Barra said. The United Auto Workers on Friday called on GM to ensure the new plant is staffed with union-represented workers, which GM officials have said would be determined by the employees. LG Chem said in a regulatory filing that its LG Energy Solution unit will invest $933.5 million in the plant between this year and 2023. GM and LG Energy Solution will use a different, less-expensive battery chemistry in Tennessee than the one to be used in the Lordstown plant that opens next year, sources previously told Reuters. Sources have said the No. 1 U.S. automaker will need more battery plants beyond Tennessee to meet aggressive EV targets, including projected sales of more than 1 million EVs globally in 2025. GM's longer-range target includes halting sales of light-duty gasoline and diesel-powered vehicles by 2035. Most battery manufacturing is currently concentrated in China and Korea, while Tesla and Japanese partner Panasonic largely control most U.S. battery production. When it opens, the new GM-LG battery plant will supply batteries for the Cadillac Lyriq crossover EV that GM is slated to start building at its nearby Spring Hill assembly plant next year. LG is expected to supply the batteries from Korea until then. Supplier sources said a second Cadillac electric crossover, called Symboliq, is expected to join the Lyriq in production at Spring Hill in 2024, along with two new electric crossovers for Honda and its premium Acura brand. GM said in October it would invest $2 billion in Spring Hill to build EVs.