1963 Chevy C10 on 2040-cars

Auto blog

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.

GM extends production cuts, affects Cadillacs, Camaro and Acadia

General Motors is extending production cuts at some of its North America factories due to a chip shortage that has roiled the global automotive industry, the U.S. carmaker said on Thursday. The move's impact has been baked into GM's prior forecast that the shortage could shave up to $2 billion off this year's profit. GM's Lansing Grand River assembly in Michigan will extend its downtime through the week of April 26. The plant makes Chevrolet Camaros and Cadillac CT4 and CT5 sedans. It has been out of action since March 15. GM's Spring Hill assembly in Tennessee will shut down for two weeks starting the week of April 12. The plant makes the Cadillac XT5, XT6 and GMC Acadia. The company said it has not taken downtime or reduced shifts at any of its more profitable full-size truck or full-size SUV plants due to the shortage. The news was first reported by CNBC. Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel and Sriraj Kalluvila

Cheapest SUVs of 2024

There is no doubt that cost is the number one decision maker when it comes to purchasing a vehicle. As prices continue to climb, affordable choices are getting harder to find, so we dug through what's available to find the least expensive SUVs in the most popular classes.  These prices are current as of January 2024, using available manufacturer suggested retail prices for 2024 models wherever possible. The prices include destination fees, but not dealer markups or incentives. Cheapest small SUV: 2024 Hyundai Venue Not surprisingly, the most affordable SUVs are the smallest. There's a whole host of subcompact SUVs out there, with some of the first introduced being the Nissan Juke, Mini Countryman and Kia Soul. In the beginning, these micro utes were marketed to empty nesters and first-time buyers, but nowadays they represent an alternative to the conventional sedan and have been increasing market share ever since. Profit margins in this class are narrow and popularity is high, which means the entrants are competitively priced. The top choices in the class are only a couple thousand dollars more than the most affordable alternatives below, so it may make sense to consider our favorites that include the Mazda CX-30, Volkswagen Taos and Chevrolet Trax. 2024 Hyundai Venue: $21,135 The Hyundai Venue debuted in 2020 and earned praise for its overall value. You get a ton of features for the money as well as a very generous warranty. Holding it back is its rather weak engine and very tiny proportions. Honorable mentions: 2024 Chevrolet Trax: $21,495 2024 Kia Soul: $21,565 Cheapest midsize SUV: 2024 Chevrolet Equinox Compact SUVs have the broadest appeal thanks to a very diverse group. It seems as though there's a great pick for nearly every taste, whether you're seeking something sporty, rugged or luxurious. They're a great pick for small families with one child and/or a dog. The class is led by vehicles that include the Honda CR-V, Kia Sportage and Mazda CX-50, which are still within reach of most shoppers' budgets. 2024 Chevrolet Equinox: $27,995 The Equinox debuted back in 2005 and this current third-generation was last redesigned in 2018, though a new one is right around the corner for the 2025 model year. While the current 2024 model may be showing its age, it still deserves your consideration for its comfortable ride quality, confident cornering and roomy passenger space.