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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.

Sunday Drive: Subaru Ascends up to the hottest market segment in America

Utility vehicles – in other words, crossovers and SUVs – are so hot right now. Two of our top stories from last week revolve around the utilitarian vehicle, but besides their jacked-up, five-door bodystyles, they couldn't be more different. The 2019 Subaru Ascent is headed into an extremely crowded and competitive segment, where it'll have to go up against industry stalwarts like the Toyota Highlander and Honda Pilot, not to mention upstart contenders like the Volkswagen Atlas. The Mercedes-AMG G63, on the other hand, has very little competition – there simply aren't very many ultra-luxurious, off-road-ready SUVs in the world vying to attract the dollars of the wellest-to-do customers across these United States. Moving on from crossovers and SUVs, our readers remain attracted to classic front-engine, rear-wheel-drive sportscars. The Toyota Supra's upcoming rebirth earns two places on our list of stories worth highlighting from the week that was; one with leaked information from a Japanese magazine, and another with rumors indicating that maybe we shouldn't be quite so excited. And finally, there's the strange case of the long-lost 2009 Chevy Corvette Z06 that one lucky individual happened to find squirreled away in a storage container with just 720 original miles. A high-horsepower head scratcher if we've ever seen one. As always, stay tuned to Autoblog this week for all the latest automotive news that's fit to print. 2019 Subaru Ascent vs Honda Pilot vs Toyota Highlander: How they compare on paper 2019 Mercedes-AMG G63 set to bare its 577-horsepower heart in Geneva Toyota Supra leaks in Japanese magazine ahead of Geneva debut Toyota Supra to be little more than a rebodied BMW Z4? Forgotten 720-mile 2009 Corvette Z06 emerges from storage Chevrolet Mercedes-Benz Subaru Toyota Coupe Crossover SUV Luxury Off-Road Vehicles Performance barn find sunday drive subaru ascent mercedes-amg g63

Sabine Schmitz to compete in WTCC race at Nurburgring, hopes for rain

The World Touring Car Championship is set to return to the Nurburgring this year after a 30-year absence. Who better, then, to lead the pack than Sabine Schmitz? One of the most skilled drivers around the Norschleife, 45-year-old Schmitz has been known to compete in the VLN series and in the 24-hour race at the Nurburgring (which she's won twice), and regularly drives tourists on hot laps around the Green Hell. Nobody can drive the circuit better than Schmitz when the rain starts to fall, and fall it often does in the German spring, but she'll have a new challenge on her hands when she makes her WTCC debut in a Chevy Cruze for the Munnich Motorsport team for the German round next month. It'll be interesting to see how Sabine does in the race, given that she has no experience with the vehicle she'll be driving, but has immense knowledge of the notoriously difficult track. She'll have the chance to acclimate a little during the WTCC test session at the 'Ring later this month, and hopes to compete in one of the two races – in Morocco or Hungary – before tackling her home track in unfamiliar machinery. News Source: WTCC via YouTube, BridgeToGantry.comImage Credit: Newspress Celebrities Hirings/Firings/Layoffs Motorsports Chevrolet wtcc