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GM now finishing and shipping pickups it had parked for lack of chips

DETROIT — General Motors is more than halfway through shipping newly-assembled pickups that it had parked due to a shortage of semiconductor chips, a top executive at the No. 1 U.S. automaker said on Friday. "We've made great progress," Steve Carlisle, GM's North American chief executive said at the Reuters Events Automotive Summit. "We're a bit better than halfway through that at the moment and our goal would be to clear out our '21 model years by the end of the year. We'll have a bit of a tail of '22 model years into the new year but not for too long." The global chip shortage has forced automakers like GM to idle production or in some cases mostly build vehicles and then park them until the necessary chips can be installed, allowing those vehicles to be then shipped to dealers. Last month, GM Chief Financial Officer Paul Jacobson cautioned that GM's third-quarter wholesale deliveries could be down by 200,000 vehicles because of chip shortages. He did not break out what share of that was trucks. To expedite transportation of newly-built vehicles to dealers, Carlisle said GM bought a number of car haulers to deliver them from factories or distribution centers. The Detroit automaker has also allowed dealers to pick the vehicles up themselves in some locations. Carlisle said new vehicle inventories have shrunk to below 20 days in the United States due to the supply chain disruptions, but the company wants to get that back up to 30 to 45 days with some getting to 60 days depending on the product line. GM sees sales of gasoline-powered vehicles being steady over the decade and real growth opportunity in electric vehicles and software, with one not undermining the other, he said.  

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.

Chevy Volt, Nissan Leaf go nearly the same all-electric miles a year

Range anxiety? What range anxiety? The concept is a foreign one to those driving Chevrolet Volt extended-range plug-ins, and as a result, that vehicle's all-electric driving miles are actually pretty close to that of the all-electric Nissan Leaf. Such were the findings of a study conducted by the Idaho National Laboratory (INL), which tracked about 8,700 cars during a three-year period, including a bunch of Volts, Leafs and Smart ED electric vehicles. In short, even though the Volt's all-electric range of about 38 miles is less than half that of the Leaf's, the Volts' collective all-electric driving was just six percent lower than the Leaf's (the next-generation Volt will be even more electro-generous, with a 50-mile range). The logic makes sense considering typical US driving habits, in which a vast majority of people commute less than 35 miles a day. Additionally, Volt drivers obviously have no fear of running out of electricity, so they were far more likely to max out on that range than some Leaf drivers. Overall, the average Leaf is driven about 15 percent less than the national average of about 11,300 miles a year for all vehicles, while Volts are driven about eight percent more. Of all those Volt miles, about 81 percent were in all-electric mode. Additionally, Volt drivers recharged about 1.5 times a day, while Leaf drivers recharged about once a day, and about 85 percent of that charging was at home. As for non-home charging, about 20 percent of the vehicles accounted for 75 percent of the station use, so folks are definitely creatures of habit. Check out the INL's 22-page report here for more interesting details. Related Video: Featured Gallery 2016 Chevrolet Volt: First Drive View 24 Photos Related Gallery 2016 Nissan Leaf View 30 Photos News Source: Idaho National Laboratory via Hybrid Cars Green Chevrolet Nissan Electric Hybrid extended-range plug-in