Cleanest Deville In Country! Best Color Combo Low Miles Fully Serviced Incred!!! on 2040-cars

Auto blog

GM struggles to sell small cars, plans to lay off 2,084 employees at two plants

Due to low demand for some of its vehicles, General Motors plans to cut 2,084 jobs at its assembly plants in Lordstown, OH and Lansing, MI. At the same time, the automaker also announced plans to invest approximately $900 million in three of its facilities – the Toledo Transmission Operations in Ohio, Bedford Casting Operations in Indiana, and Lansing Grand River in Michigan - for future products. GM will discontinue the third shift at both the Lansing Grand River plant and the Lordstown, OH plant. The Cadillac ATS, Cadillac CTS, and Chevrolet Camaro are made at the automaker's plant in Michigan, which currently has 2,700 employees. The move to eliminate the third shift affects 810 hourly workers, as well as 29 salaried employees, starting on January 16th. The plant in Lordstown, OH currently has 4,500 employees and makes the Chevrolet Cruze sedan. The plan to discontinue the third shift will affect 43 salaried workers and 1,202 hourly employees and will start on January 23rd. As Fortune points out, sales of the Cruze are down 20 percent through October, while sales of the Cadillac ATS and CTS were down 17 percent through the same period of time. In addition to cutting the third shift at both assembly plants, the automaker plans to invest a total of $900 million between three of its facilities for unnamed future products. GM's Toledo Transmission Operations will receive $667.6 million, the Lansing Grand River Assembly plant will receive $211 million, and the automaker's Bedford Casting Operations will get $37 million. Last year, GM cut roughly 500 jobs from its Orion Township factory due to slow sales of the Chevrolet Sonic and Buick Verano, with surging crossover and SUV sales as the most likely culprit. With GM posting much healthier sales figures for the Chevrolet Equinox and Cadillac XT5 compared to the ATS, CTS, and Cruze, it looks like compact SUVs are to blame for this year's layoffs as well. Related Video: News Source: Fortune, General MotorsImage Credit: REUTERS / Rebecca Cook Hirings/Firings/Layoffs Plants/Manufacturing Cadillac Chevrolet GM Coupe Sedan Lordstown Ohio

Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.

Cadillac XT5 confirmed for 2016 as next-gen SRX

Cadillac's entire lineup of 2016 models gets a major infotainment upgrade this summer with improvements to CUE and integration with Apple CarPlay and Android Auto. There's one major exception for now, though. The SRX retains the old system until its all-new generation, called the XT5, debuts early in the 2016 calendar year. "When we transition into all new product lines, we will evolve the naming convention to suit the new classification we have announced. So SRX becomes XT5 next year," company spokesman David Caldwell said in an email to Autoblog. Earlier spy shots and rumors suggest the XT5 might be offered with a turbocharged four-cylinder and naturally aspirated six-cylinder engines, plus a nine-speed automatic transmission. For the rest of Cadillac's models, CarPlay arrives with the launch of the 2016 vehicles, and Android Auto joins later. Using either of them requires a connection via USB, and they add a new projection icon on the CUE screen. Once activated, both systems integrate with driver's phone and incorporate features like navigation, music, and contacts. They can also accept voice commands. Even for those that don't want to hook up a smartphone, CUE should work better thanks to a more powerful processor. Start-up times for the infotainment system are expected to be faster, and Cadillac claims that it's also more responsive for voice recognition, navigation searches, and media. The navigation interface is simplified, as well. The Escalade, CTS, and XTS can now be ordered with a 360-degree camera system to display on the screen. Cadillac Enhances Phone Integration for 2016 Models with Apple CarPlay, CUE Upgrades APPLE CARPLAY AVAILABLE AT LAUNCH; ANDROID AUTO COMING LATER IN MODEL YEAR 2015-06-09 NEW YORK – Cadillac's 2016 model year products will feature enhanced connectivity and control, including the addition of Apple CarPlay and Android Auto, the predominant new systems for in-car phone integration. These additions are part of a broader enhancement of CUE, Cadillac's user experience, with new features and a faster, streamlined operation. Apple CarPlay will debut in 2016 Cadillac models featuring CUE's 8-in multi-touch screen except the SRX Crossover, a model that will move to an all-new generation in early 2016. Android Auto is expected to be phased into 2016 production at a later date. The 2016 model year will begin this summer.