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GM laying off more than 4,000 workers Monday morning

According to reports from Automotive News, The Detroit News, and CNN, General Motors plans to begin laying off more than 4,000 salaried workers starting Monday morning. In a statement to AN, a spokesperson for the automaker said, "We are not confirming timing. Our employees are our priority. We will communicate with them first." We've been expecting layoffs at General Motors since November, 2018. At the time, the Detroit-based automaker announced it would seek to shed 8,100 salaried employees, shut down five assembly plants in North America, and kill off several slow-selling models. One month earlier, GM offered buyout packages to 18,000 workers and said it would seek to cut its global workforce by 25 percent. A spokesperson said at the time the moves were "proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance." The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. We expect to hear plenty more from both sides over the next several days.

GM profits threatened by glut of pickups

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.
The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.
That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.

The Chevy Cruze Hatchback arrives in the US this fall

We knew this was coming, but now it's official. Chevrolet will sell a five-door Cruze in the US beginning in late 2016, and here it is, ahead of its debut at the 2016 Detroit Auto Show. Previously, the Cruze Hatchback was available in other markets, and the decision to not offer it Stateside was apparently "a pre-bankruptcy planning mistake," according to GM's Mark Reuss in earlier reports. The 2017 Cruze Hatchback builds on the second-generation Cruze we saw last summer, adding a wealth of functionality – there's 42 cubic feet of cargo space available with the rear seats folded. Plus, the Cruze sedan is lighter and stiffer than its predecessor – more than 200 pounds have been shaved off the compact car's curb weight. While the Cruze sedan is available in four trims – L, LS, LT, and Premier – the five-door will only be available in LT and Premier guise, but can be had with the optional RS appearance package. All Cruze models are powered by a 1.4-liter turbocharged inline-four engine, with 153 horsepower and 177 pound-feet of torque. Standard amenities include Apple CarPlay and Android Auto via Chevy's MyLink infotainment system, as well as a raft of high-tech safety features. Pricing information isn't available as of this writing, though we expect the Cruze Hatchback to command a slightly higher premium than the sedan. For comparison, a new Cruze LT sedan starts at $21,995, with the Premier coming in at $23,995. We'll have official numbers closer to the Hatchback's on-sale date this fall. Chevrolet Introduces 2017 Cruze Hatch HERE'S THE STORY Ahead of its debut at the North American International Auto Show, Chevrolet today introduced the 2017 Cruze Hatchback. Developed with all the technologies and dynamic driving attributes of the all-new 2016 Cruze sedan, the new hatch adds a functional and sporty choice for customers. It joins Colorado and Trax as the latest Chevrolets to push into new segments. PRODUCT DETAILS The Cruze Hatch has the same, class-leading 106.3-inch (2,700 mm) wheelbase as sedan models, but features a unique roof and rear-end structure – including wraparound taillamps and an integrated spoiler at the top of the liftgate. It opens to offer 18.5 cubic feet (524 liters) of cargo space behind the rear seat. With the rear seat folded, cargo space expands to 42 cubic feet (1,189 liters).