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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.

Why GM will import the Cadillac CT6 PHEV from China

There's a clear-cut reason that General Motors is going to build its upcoming plug-in hybrid CT6 sedan in China. Sure, the car will be sold in China and the US, but the real reason for the "Made In China" stamp is environmental. If an automaker wants to build a new model in China, adding a green powertrain is an easy way to do that. The CT6 will have both a PHEV option as well as standard gas engine versions. David Leone, Cadillac's executive chief engineer, told AutoblogGreen recently that, "[China is] far more receptive to approving localized production of vehicle programs that have new energy vehicle powertrain applications." To put it succinctly, since the CT6 has a PHEV option, it is easier for GM to build all CT6 models in China. Some of them will then be imported to the US. "Most new global Cadillacs will also be produced in China as well. It's our second-largest market in the world." "To bring any new car into China, to produce it, you need government approval," Leone said. "The government isn't interested in bringing many new cars to market that don't have new energy credits. [The CT6] also provides new energy credits that enables it to be an attractive, well-received product in China." Leone said that there are two main markets for the various CT6 models: China and the US. The car will arrive in the 2017 model year, so some time after the end of June 2016. There are other practical reasons to build the PHEV in China, like the cells in the battery pack. Those are provided by LG Chem, which makes some cells in Michigan but more in South Korea. And GM already builds cars in China through its joint venture with SAIC, Shanghai General Motors, or SGM. "In February 2013 we started making the XTS, in summer of 2014 we started making the ATS-L," Leone said. "We will be producing [the CT6] within a number of months. Most new global Cadillacs will also be produced in China as well. It's our second-largest market in the world." The Chinese and US versions of the CT6 will be identical, Leone said. While some Cadillacs sold in China are slightly different than the US versions – the Chinese ATS is 77 millimeters longer, for example – the CTS6 PHEV will be exactly the same in both places, other than slight tweaks to the trim levels. Still, "more of our cars going forward will be the exact same car," he said. That doesn't mean that sales will be the same everywhere.

Cadillac XT3 caught covered in copious camouflage

While a bit difficult to tell thanks to the impressive camouflage used, what we're looking at here is likely the upcoming Cadillac XT3. There are a few details that stand out to lend credence to this prediction. There are a handful of sharp angles scattered throughout that are in line with Cadillac's modern design language. Specifically in the LED running lights and on the side mirrors. The rear profile also is reminiscent of the current, and slightly larger XT5. The rear lights extend into the D-pillars, which would match the current Escalade. We get a pretty clear picture of the rear suspension on this XT3. It's clearly an independent rear suspension using coil springs. While General Motors uses independent suspension on some of its crossovers, we can't quite match it to a particular model. We believe that if the XT3 is based on an existing model (which it almost certainly is), the platform and suspension have been substantially modified. The XT3 could use a version of the D2XX platform that underpins the Buick Envision. However, we know from a previous report that the XT3 will likely be built at the factory that produces the Buick LaCrosse and Chevy Malibu. The XT5 uses a modified version of the LaCrosse/Malibu platform, so it's possible the XT3 could use a shorter version of the XT5 chassis. Depending on how small the XT3 ends up being, it might even share a platform with the Chevy Trax and Buick Encore. However, considering their economy car roots and torsion-bar rear suspension, we think that's the least likely. Regardless of what chassis is underneath its crisp bodywork, we expect the XT3 to be released sometime next year. Related Video: