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GM to idle car production at five factories as Americans continue CUV love affair

In case you needed another reminder that Americans have fallen out of love with sedans, General Motors today announced plans to idle five factories in January in a bid to cut its inventory to 70 days. Detroit-Hamtramck Assembly ( Buick LaCrosse, Cadillac CT6, Chevrolet Volt and Impala) and Fairfax Assembly in Kansas ( Chevy Malibu) will stop production for three weeks. Lansing Grand River ( Cadillac ATS and CTS, and Chevy Camaro) is going down for two weeks, while Lordstown, OH ( Chevy Cruze) and Bowling Green, KY ( Chevy Corvette) will go idle for a week each, Automotive News reports. GM's shutdown reflects a broader problem with the company's supply – at 847,000 vehicles, the company's supply increased unsteadily from a low of 629,000 units in January of 2016. That's more than a 25 percent increase in the past year. Citing information from Autodata, The Detroit News reports that at the end of November, GM had a 168-day supply of LaCrosses, 177 days' worth of Camaro, 170 days of Corvette, 121 days for Cruze, 119 days for ATS, 132 days for CTS, and 110 days of CT6. Meanwhile, inventory of the company's more popular vehicles is actually below the professionally accepted 60- to 70-day supply, The News reports. The Trax, Colorado pickup, and GM's full-size SUVs are sitting below 50 days and experiencing year-over-year sales increases. GM needs a rethink of its inventory levels, which is something that's apparently coming. "We're going to be responsible in managing our inventory levels," GM spokesman Jim Cain told The News. Another unnamed spokesman told Automotive News the company's day-to-day supplies would "fluctuate before moderating at year-end." But at least one analyst thinks this won't be the last time Detroit needs to stop production to level things out. "Incentives are elevated, residuals are declining, and rates are rising," Brian Johnson, an analyst with Barclays, told The News. "And while GM in particular may benefit in the months ahead from new product launches, it's important to recognize that GM's inventory is elevated at the moment, and it wouldn't surprise us if they need to announce another production cut – which could pressure the stock." Related Video: News Source: The Detroit News, Automotive News - sub. req.Image Credit: Paul Sancya / AP Plants/Manufacturing Buick Cadillac Chevrolet GM GMC Crossover SUV Sedan bowling green cadillac xt6 fairfax

Let's Drive NYC is GM's car sharing program for the Big Apple

Under a new car sharing program offered by General Motors and others, a New York Minute will cost about 15 cents. GM is working with a luxury-apartment building owner and a parking lot operator to run a car sharing program in Midtown Manhattan. The program is called Let's Drive NYC and it was announced Thursday. Let's Drive NYC is being offered to residents of the Ritz Plaza, a 479-unit luxury apartment building near New York's Times Square. The program is being run with the help of Icon Parking Systems, which runs about 200 parking garages in Manhattan where the cars can be parked. GM is contributing eight Chevrolet Trax crossovers and two Chevrolet Equinox SUVs, and the automaker is slated to add more vehicles "later." Residents of the Ritz Plaza, which is owned by Stonehenge Partners, can make "periodic apartment lease payments" and in exchange receive electronic credits for three hours of driving a month. After those three hours are up, the drivers will be charged less than $10 an hour, or as much as $75 a day. The program was piloted earlier this year to some of the apartment's tenants. The program marks the second bit of car sharing news in New York within the past two months. In August, Mercedes-Benz and Smart parent Daimler announced that its Car2go car sharing service would expand into Queens and add about 100 Smart ForTwo two-seaters to the city's program. Car2go made its New York debut in Brooklyn last October and has attracted more than 27,000 members since then. You can take a look at Let's Drive NYC's press release below. GM Unveils 'Let's Drive NYC' Car-Sharing Program NEW YORK, Oct. 1, 2015 /PRNewswire/ -- Running an errand to a big box store or planning a weekend excursion are about to get easier for some Manhattan residents because of a car-sharing program revealed today by General Motors. It's the company's latest move to deliver urban mobility options to customers around the globe. Let's Drive NYC is available to eligible residents of The Ritz Plaza, a 479-unit luxury apartment building at Times Square in midtown Manhattan, owned and managed by Stonehenge Partners. Residents use a GM-developed mobile app to reserve a vehicle and access parking in one of 200 garages throughout Manhattan managed by Icon Parking Systems. The fleet currently includes eight Chevrolet Trax small SUVs and two Chevrolet Equinox compact SUVs, with more vehicles to be added later.

Chevy Volt outsells Nissan Leaf for first time since October 2013

It's been a rough summer so far for both the Chevy Volt and the Nissan Leaf, the first two plug-in vehicles from major automakers that ushered in the modern plug-in era. In June 2015, sales were down from their 2014 levels. The Leaf was down 11.6 percent and the Volt was down 31.1 percent. For July 2015, things didn't get much better. July 2015's Volt sales of 1,313 were down 35 percent from July 2014 and are down 34.8 percent for the year-to-date. Nissan, on the other hand moved only 1,174 Leafs last month, down 61.1 percent. So far this year, Leaf sales are down 30.2 percent. What's interesting with this steep decline in Leaf sales is that allowed the Volt to outsell the Leaf for the first time since October 2013. Back then, the Volt sold 2,022 compared to the Leaf's 2,002 units. So far, Nissan has sold 83,312 Leafs in the US since the EV went on sale in late 2010. Chevy has sold 80,292 Volts. Even though Tesla doesn't release monthly sales figures, there's a good chance that the pricey Model S was once again the best-selling EV in the US in July, as it was in the first three months of 2015. At that time, Tesla delivered an average of just under 2,000 Model S EVs a month. We might get some insight into more recent numbers during the quarterly investor call on Wednesday. As we've said before, the low sales for the aging plug-ins can be explained by the fact that both the Leaf and the Volt are due for upgrades. The second-gen Volt is coming in a few months. Nissan is being cagey about when the updated Leaf will arrive, but given these latest sales figures, we wouldn't be surprised if the undisclosed timetable gets move up somehow. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience.