1969 Chevrolet Corvette Stingray on 2040-cars

Auto blog

The UAW's 'record contract' hinges on pensions, battery plants

DETROIT - After nearly four weeks of disruptive strikes and hard bargaining, the United Auto Workers and the Detroit Three automakers have edged closer to a deal that could offer record-setting wage gains for nearly 150,000 U.S. workers. General Motors, Ford Motor and Chrysler parent Stellantis have all agreed to raise base wages by between 20% and 23% over a four-year deal, according to union and company statements. Ford and Stellantis have agreed to reinstate cost-of-living adjustments, or COLA. The companies have offered to boost pay for temporary workers and give them a faster path to full-time, full-wage status. All three have proposed slashing the time it takes a new hire to get to the top UAW pay rate. The progress in contract talks follows the first-ever simultaneous strike by the UAW against Detroit's Big Three automakers. The union began the strike on Sept. 15 in hopes of forcing a better deal from each major automaker. But coming close to a deal is not the same thing as reaching a deal. Big obstacles remain on at least two major UAW demands: restoring the retirement security provided by pre-2007 defined benefit pension plans, and covering present and future joint- venture electric vehicle battery plants under the union's master contracts with the automakers. On retirement, none of the automakers has agreed to restore pre-2007 defined-benefit pension plans for workers hired after 2007. Doing so could force the automakers to again burden their balance sheets with multibillion-dollar liabilities. GM and the former Chrysler unloaded most of those liabilities in their 2009 bankruptcies. The union and automakers have explored an approach to providing more income security by offering annuities as an investment option in their company-sponsored 401(k) savings plans, people familiar with the discussions said. Stellantis referred to an annuity option as part of a more generous 401(k) proposal on Sept. 22. Annuities or similar instruments could give UAW retirees assurance of fixed, predictable payouts less dependent on stock market ups and downs, experts said. Recent changes in federal law have removed obstacles to including annuities as a feature of corporate 401(k) plans, said Olivia Mitchell, a professor at the University of Pennsylvania Wharton School and an expert on pensions and retirement. "Retirees want a way to be assured they won't run out of money," Mitchell said.

Impala SS vs. Marauder: Recalling Detroit’s muscle sedans 

Impala SS vs. Marauder — it was comparo that only really happened in theory. ChevyÂ’s muscle sedan ran from 1994-96, while MercuryÂ’s answer arrived in 2003 and only lasted until 2004. TheyÂ’re linked inextricably, as there were few options for powerful American sedans during that milquetoast period for enthusiasts. The debate was reignited recently among Autoblog editors when a pristine 1996 Chevy Impala SS with just 2,173 miles on the odometer hit the market on Bring a Trailer. Most of the staff favored the Impala for its sinister looks and said that it lived up to its billing as a legit muscle car. Nearly two-thirds of you agree. We ran an unscientific Twitter poll that generated 851 votes, 63.9 percent of which backed the Impala. Muscle sedans, take your pick: — Greg Migliore (@GregMigliore) April 14, 2020 Then and now enthusiasts felt the Impala was a more complete execution with guts. The Marauder, despite coming along later, felt more hacked together, according to prevailing sentiments. Why? On purpose and on paper theyÂ’re similar. The ImpalaÂ’s 5.7-liter LT1 V8 making 260 horsepower and 330 pound-feet of torque was impressive for a two-ton sedan in the mid-Â’90s. The Marauder was actually more powerful — its 4.6-liter V8 was rated at 302 hp and 318 lb-ft. The ImpalaÂ’s engine was also used in the C4 Corvette. The MarauderÂ’s mill was shared with the Mustang Mach 1. You can see why they resonated so deeply with Boomers longing for a bygone era and also captured the attention of coming-of-age Gen Xers. Car and DriverÂ’s staff gave the Marauder a lukewarm review back in ‘03, citing its solid handling and features, yet knocking the sedan for being slow off the line. In a Hemmings article appropriately called “Autopsy” from 2004, the ImpalaÂ’s stronger low-end torque and smooth shifting transmission earned praise, separating it from the more sluggish Mercury. All of this was captured in the carsÂ’ acceleration times, highlighting metrically the differences in their character. The Impala hit 60 miles per hour in 6.5 seconds, while the Marauder was a half-second slower, according to C/D testing. Other sites have them closer together, which reinforces the premise it really was the little things that separated these muscle cars. Both made the most of their genetics, riding on ancient platforms (FordÂ’s Panther and General MotorsÂ’ B-body) that preceded these cars by decades. Both had iconic names.

GM CEO Mary Barra predicts mass electrification will take decades

General Motors is allocating a substantial amount of money to the development of electric technology, but Mary Barra, the firm's CEO, conceded that battery-powered cars won't fully replace their gasoline-burning counterparts for several decades. She stressed the shift is ongoing, but she hinted it will be slower than many assume. "We believe the transition will happen over time," affirmed Barra on "Leadership Live with David Rubenstein," a talk show aired by Bloomberg Television. She added that not every car will be electric in 2040. "It will happen in a little bit longer period, but it will happen," she told the host. She was presumably talking about the United States market; the situation is markedly different in Europe and in China, where strict government regulations (and even stricter ones on the horizon) are accelerating the shift towards electric cars. On the surface, it doesn't look like General Motors has much invested in electrification; the only battery-powered model it sells in America in 2020 is the Chevrolet Bolt (pictured), which undeniably remains a niche vehicle. Sales totaled 16,418 units in 2019, meaning the Corvette beat it by about 1,500 sales. In comparison, Cadillac sold 35,424 examples of the aging last-generation Escalade during the same time period. And yet, the company isn't giving up. It has numerous electric models in the pipeline including a slightly larger version of the aforementioned Bolt, the much-hyped GMC Hummer pickup, and an electric crossover assigned to the Cadillac brand. These models (and others) will use the Ultium battery technology that General Motors is currently developing. Its engineers are also working on a modular platform capable of underpinning a wide variety of cars. Bringing these innovations to the market is a Herculean task. EVs may not take over for decades, but Barra and her team must believe their 2% market share will increase significantly in the coming years if they're approving these programs. Autonomous technology is even costlier, more complicated, and more time-consuming to develop. Barra nonetheless expects to see the first General Motors-built driverless vehicles on the road by 2025. "I definitely think it will happen within the next five years. Our Cruise team is continuing to develop technology so it's safer than a human driver. I think you'll see it clearly within five years," she said on the same talk show. Her statement is vague but realistic.